Liberty Announces Semi-Annual Payment on 3.5% Senior Exchangeable Debentures Due 2031
16 July 2009 - 4:03AM
PR Newswire (US)
Results in Further Reduction of Adjusted Principal Amount
ENGLEWOOD, Colo., July 15 /PRNewswire-FirstCall/ -- Liberty Media
LLC ("Liberty"), a subsidiary of Liberty Media Corporation
(NASDAQ:LCAPANASDAQ:LCAPBNASDAQ:
LINTANASDAQ:LINTBNASDAQ:LMDIANASDAQ:LMDIB), 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, 2009 July 15, 2009 Beginning
Additional Ending Adjusted Payment of Adjusted Principal Payment
Interest Principal Principal 825.6985 $17.50 14.4497 3.0503
822.6482 The semi-annual interest payment and additional
distribution are expected to be made on July 15, 2009 to holders of
record of the Debentures on July 1, 2009. 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.
DATASOURCE: Liberty Media Corporation CONTACT: Courtnee Ulrich,
+1-720-875-5420 or Heather Oshiro, +1-720-875-5433, both of Liberty
Media Corporation Web Site: http://www.libertymedia.com/
Copyright