Liberty Interactive
Nov 15, 2016

Liberty Announces Payment of Semi-Annual Interest Payment and Additional Distribution on 4.0% Senior Exchangeable Debentures Due 2029

ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty Interactive Corporation (Nasdaq: QVCA, QVCB, LVNTA, LVNTB), announces a semi-annual interest payment and additional distribution to the holders of its 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures"). The amount of the semi-annual interest payment is $20.00 per $1,000 original principal amount of Debentures (a "Debenture"), and the amount of the additional distribution is $0.8489 per Debenture. Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced by an amount equal to each extraordinary distribution made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 4.0% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular extraordinary distribution that results in an adjustment to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that extraordinary distribution.

To date, there has been one extraordinary distribution to holders of the Debentures. On August 7, 2013, Liberty made an extraordinary distribution of $63.0960 per $1,000 original principal amount of Debenture arising from the merger transaction between Sprint Nextel Corporation and SoftBank Corp.

Adjustments to the principal amount of the Debentures do not affect the amount of the semi-annual interest payments received by holders of the Debentures, which will continue to be a rate equal to 4.0% per annum of the original principal amount of the Debentures. Below is a detail of the amount of the semi-annual interest payment being made on the Debentures announced today, its allocation between payment of interest and repayment of principal and the revised adjusted principal amount resulting from the payment, per $1,000 original principal amount of the Debentures:

                 

November 15, 2016
Beginning Adjusted Principal

 

Total
Payment

  Interest  

Additional Payment
of Principal

 

November 15, 2016
Ending Adjusted Principal

$930.3369   $20.0000   $18.6067   $1.3933   $928.9436
       

The additional distribution of $0.8489 per Debenture announced today is attributable to the quarterly cash dividends paid by CenturyLink Inc. on 6/14/16 and 9/16/16. The additional distribution will not result in an adjustment to the adjusted principal amount of the Debentures.

The semi-annual interest payment and additional distribution are expected to be paid on November 15, 2016 to holders of record of the Debentures on November 1, 2016.

About Liberty Interactive LLC

Liberty Interactive LLC is an intermediate subsidiary of Liberty Interactive Corporation, owning interests in a broad range of electronic retailing, media, communications, and entertainment businesses.

Liberty Interactive Corporation
Courtnee Chun, 720-875-5420

Source: Liberty Interactive Corporation

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