ENGLEWOOD, Colo., March 17 /PRNewswire-FirstCall/ -- QVC, Inc., a
wholly-owned subsidiary of Liberty Media Corporation (Nasdaq:
LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB), today announced its
intention to offer $250 million in
aggregate principal amount of senior secured notes due April 15, 2017 and $250
million in aggregate principal amount of senior secured
notes due October 15, 2020
(collectively, the "Notes"). The Notes will be senior secured
obligations of QVC and will be secured by a first-priority lien on
the capital stock of QVC and the other assets securing QVC's senior
secured credit facilities and existing 7.50% Senior Secured Notes
due 2019. The net proceeds from the offering will be used to
acquire and retire existing senior secured credit facility
indebtedness.
QVC will make the offering pursuant to an exemption under the
Securities Act of 1933, as amended. The initial purchasers
will offer the Notes only to Qualified Institutional Buyers as
permitted under Rule 144A of the Securities Act, or outside
the United States to certain
persons in reliance on Regulation S under the Securities Act.
The Notes will not be registered under the Securities Act and
may not be sold in the United
States absent registration or an exemption from the
registration requirements of the Securities Act.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy the offered Notes, nor shall there be any sales of Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, statements about the
completion of the offering and the use of proceeds from the
offering. These forward-looking statements involve many risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements,
including, without limitation, general market conditions. These
forward looking statements speak only as of the date of this press
release, and Liberty Media expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Liberty Media's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Please refer to the publicly filed documents of
Liberty Media, including the most recent Forms 10-Q and 10-K for
additional information about Liberty Media and about the risks and
uncertainties related to Liberty Media's business which may affect
the statements made in this press release.
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Contact:
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Courtnee Ulrich
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720-875-5420
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SOURCE Liberty Media Corporation