ENGLEWOOD, Colo., Jan. 18, 2011 /PRNewswire/ -- Liberty Media LLC
("Liberty"), a subsidiary of Liberty Media Corporation (Nasdaq:
LCAPA, LCAPB, LINTA, LINTB, LSTZA, LSTZB), 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:
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January 15,
2011
Beginning
Adjusted Principal
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Payment
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Interest
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Additional
Payment of
Principal
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January 15,
2011
Ending Adjusted
Principal
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$816.3867
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$17.50
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$14.2868
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$3.2132
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$813.1734
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The semi-annual interest payment and additional distribution are
expected to be made on January 18,
2011 to holders of record of the Debentures on January 1, 2011.
About Liberty Media LLC
Liberty Media LLC is an intermediate holding company of Liberty
Media Corporation, owning interests in a broad range of electronic
retailing, media, communications, and entertainment businesses.
CONTACT:
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Courtnee Ulrich
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720-875-5420
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SOURCE Liberty Media LLC