Liberty Announces Semi-Annual Payment on 3.5% Senior Exchangeable Debentures Due 2031 - Results in Further Reduction of Adjus...
2011年7月16日 - 5:00AM
ビジネスワイヤ(英語)
Liberty Media LLC ("Liberty"), a subsidiary of Liberty Media
Corporation (Nasdaq: LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB),
announced a semi-annual payment to the holders of its 3.5% Senior
Exchangeable Debentures due in 2031 (the "Debentures"). The amount
of the payment is $17.50 per $1,000 of original principal amount of
the Debentures.
This semi-annual payment will result in the further reduction of
the adjusted principal amount of the Debentures. As previously
announced, the principal amount of the Debentures was reduced in
the amount of $162.616 per Debenture, resulting in an adjusted
principal amount equal to $837.384 per Debenture. This adjustment
resulted from an extraordinary distribution of cash that was paid
to bondholders on January 10, 2007 in accordance with the indenture
governing the Debentures (the "Indenture"). This extraordinary
distribution arose from Freescale Semiconductor's merger with an
entity controlled by a consortium of private equity firms in
exchange for cash. At that time, Liberty announced that, in
accordance with the Indenture, the adjusted principal amount of the
Debentures would be further reduced on each successive semi-annual
interest payment date to the extent necessary to cause the
semi-annual payment on that date to represent the payment by
Liberty, in arrears, of an annualized yield of 3.5% of the adjusted
principal amount of the Debentures.
The adjustments described above will not affect the amount of
the semi-annual payments received by holders of the debentures,
which will continue to be a rate equal to 3.5% per annum of the
original principal amount of the Debentures. Below is a detail of
the amount of the payment being made on the Debentures, its
allocation between payment of interest and repayment of principal
and the revised adjusted principal amount resulting from the
payment, per $1,000 of original principal amount of the
Debentures:
July 15, 2011BeginningAdjusted
Principal
Payment Interest
AdditionalPayment ofPrincipal
July 15, 2011Ending AdjustedPrincipal
$813.1734 $17.50 $14.2305
$3.2695 $809.9040
The semi-annual interest payment and additional distribution are
expected to be made on July 15, 2011 to holders of record of the
Debentures on July 1, 2011.
About Liberty Media LLC
Liberty Media LLC is an intermediate holding company of Liberty
Media Corporation, owning interests in a broad range of electronic
retailing, media, communications, and entertainment businesses.
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