Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty Interactive Corporation (Nasdaq: LINTA, LINTB), 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:
|January 15, 2012BeginningAdjusted Principal||Payment||Interest||AdditionalPayment ofPrincipal||January 15, 2012Ending AdjustedPrincipal|
The semi-annual interest payment and additional distribution are expected to be made on January 13, 2012 to holders of record of the Debentures on January 1, 2012.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV