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QVC Announces Final Results Of Tender Offer For 7.125% Senior Secured Notes Due 2017 And Preliminary Results Of Tender Offer For 7.50% Senior Secured Notes Due 2019

QVC, Inc. announced today that, as of 5:00 p.m., New York City time, on March 15, 2013 (the “ Any and All Expiration Date” and the “ Dutch Auction Early Tender Deadline”), the following principal amounts of the outstanding senior secured notes have been tendered and accepted for purchase under the previously announced cash tender offers (the “ Offers”) to purchase any and all of its outstanding $500 million in aggregate principal amount of 7.125% Senior Secured Notes due 2017 (the “ Any and All Notes”) and up to $250 million in aggregate principal amount (as such amount may be increased in QVC’s sole discretion, the “ Dutch Tender Cap”) of its 7.50% Senior Secured Notes due 2019 (the “ Dutch Auction Notes” and together with the Any and All Notes, the “ Notes”) on the terms and subject to the conditions set forth in the Offer to Purchase, dated as of March 4, 2013 (as it may be amended or supplemented from time to time, the “ Offer to Purchase”).

Series of Notes

     

CUSIP Numbers

      Outstanding Principal Amount Prior to Commencement of the Offers       Principal Amount Tendered on or Prior to the Any and All Expiration Date or the Dutch Auction Early Tender Deadline, as applicable       Principal Amount Accepted at Any and All Expiration Date or the Dutch Auction Early Tender Deadline, as applicable
Any and All Notes:                        
7.125% Senior Secured Notes due 2017

747262AC7,

$500,000,000 $124,463,000 $124,463,000

U74900AB4

Dutch Auction Notes:
7.500% Senior Secured Notes due 2019 747262AA1, $1,000,000,000 $230,708,000 $230,708,000
747262AB9,
U74900AA6
 

Holders of the Any and All Notes that have been accepted for purchase will receive the total consideration of $1,039.40 for each $1,000 principal amount of the Any and All Notes purchased pursuant to the Offers. All of the tenders of Dutch Auction Notes were made at various bid prices within the acceptable bid price range of $1,105.00 - $1,120.00 per $1,000 principal amount of Notes. Holders of the Dutch Auction Notes who validly tendered and did not withdraw their Dutch Auction Notes on or prior to the Dutch Auction Early Tender Deadline, and whose Dutch Auction notes are purchased pursuant to the Offers, will be entitled to receive the total consideration payable under the Offers, which includes an “Early Tender Payment” of $30.00 for each $1,000 principal amount of Dutch Auction Notes so purchased. Based on the modified Dutch Auction procedure as described in the Offer to Purchase, the total consideration for the Dutch Auction Notes is $1,120 for each $1,000 principal amount of Dutch Auction Notes. QVC expects to make payment for such accepted Any and All Notes and Dutch Auction Notes today.

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