Liberty Media Corporation Announces Quarterly Interest Payment and Excess Regular Additional Distribution on 2.75% Exchangeable Senior Debentures Due 2049
Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced in an amount equal to each Extraordinary Additional Distribution that is made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive quarterly interest payment date to the extent necessary to cause the quarterly interest payment to represent the payment of an annualized yield of 2.75% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular Extraordinary Additional Distribution that results in a reduction to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that Extraordinary Additional Distribution.
To date, Liberty has made one Extraordinary Additional Distribution to holders of the Debentures. As previously announced, on
Reductions to the principal amount of the Debentures do not affect the amount of the quarterly interest payments received by holders of the Debentures, which will continue to be a rate equal to 2.75% per annum of the original principal amount of the Debentures. Below is a detail of the amount of the quarterly interest payment being made on the Debentures, its allocation between payment of interest and repayment of principal and the revised adjusted principal amount of the Debentures resulting from such payment, per
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Payment |
Interest |
Payment of Principal |
|
|
|
|
$0.2107 |
|
Liberty is also making an Excess Regular Additional Distribution to holders of the Debentures as of
The quarterly interest payment and Excess Regular Additional Distribution are expected to be made on
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