Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced in an amount equal to each additional distribution made to holders of the Debentures attributable to an extraordinary distribution that is made on reference shares. 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 0.75% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular 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 additional distribution.
To date, Liberty has made one additional distribution that was
attributable to an extraordinary distribution made on reference shares.
Adjustments 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 0.75% 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
Liberty also announced the payment today, to holders of the Debentures
News Provided by Acquire Media