Liberty Announces Semi-Annual Payment on 3.5% Senior Exchangeable Debentures Due 2031
16 7월 2008 - 2:28AM
PR Newswire (US)
Results in Further Reduction of Adjusted Principal Amount
ENGLEWOOD, Colo., July 15 /PRNewswire-FirstCall/ -- Liberty Media
Corporation (NASDAQ:LINTANASDAQ:LCAPANASDAQ:LMDIA) ("Liberty")
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, 2008 July 15, 2008 Beginning
Additional Ending Adjusted Payment of Adjusted Principal Payment
Interest Principal Principal 831.6426 $17.50 14.5537 2.9463
828.6963 The semi-annual interest payment and additional
distribution are expected to be made on July 15, 2008 to holders of
record of the Debentures on July 1, 2008. Liberty Media Corporation
owns interests in a broad range of electronic retailing, media,
communications and entertainment businesses. Those interests are
attributed to three tracking stock groups: (1) the Liberty
Interactive group, which includes Liberty's interests in QVC.com,
Provide Commerce, Backcountry.com, BUYSEASONS, Bodybuilding.com,
IAC/InterActiveCorp, and Expedia, (2) the Liberty Entertainment
Group, which includes Liberty's interests in the DIRECTV Group,
Inc., Starz Entertainment, FUN Technologies, Inc., GSN, LLC,
Wildblue Communications, Inc., and Liberty Sports Holdings LLC, and
(3) the Liberty Capital group, which includes all businesses,
assets and liabilities not attributed to the Interactive Group or
the Entertainment Group including our subsidiaries Starz Media,
LLC, Atlanta National League Baseball Club, Inc., and TruePosition,
Inc., and minority equity investments in Time Warner Inc. and
Sprint Nextel Corporation. For more information, please see
http://www.libertymedia.com/. DATASOURCE: Liberty Media Corporation
CONTACT: Courtnee Ulrich of Liberty Media Corporation,
+1-720-875-5420 Web site: http://www.libertymedia.com/
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