This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Liberty Announces Semi-Annual Payment On 3.5% Senior Exchangeable Debentures Due 2031 - Results In Further Reduction Of Adjusted Principal Amount

Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty Interactive Corporation (Nasdaq: LINTA, LINTB, LVNTA, LVNTB), 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.

Under the Indenture for the Debentures, the principal amount of the Debentures is adjusted in an amount equal to each extraordinary distribution made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 3.5% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular extraordinary distribution that results in an adjustment to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that extraordinary distribution.

To date, there have been two extraordinary distributions to holders of the Debentures. On January 10, 2007, Liberty made an extraordinary distribution of $162.6160 per $1,000 original principal amount of Debenture arising from Freescale Semiconductor’s going private transaction. On June 20, 2012, Liberty made an extraordinary distribution of $184.0960 per $1,000 original principal amount of Debenture arising from Motorola Mobility Holdings, Inc (“MMI”) acquisition by Google.

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, 2013BeginningAdjusted Principal
    Payment     Interest    

AdditionalPayment ofPrincipal

July 15, 2013EndingAdjusted Principal
$612.4306     $17.50     $10.7175     $6.7825     $ 605.6481

The semi-annual interest payment and additional distribution are expected to be made on July 15, 2013 to holders of record of the Debentures on July 1, 2013.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,781.26 -17.23 -0.10%
S&P 500 2,085.59 -4.52 -0.22%
NASDAQ 5,122.7910 -4.7340 -0.09%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs