Qurate Retail Announces Semi-Annual Interest Payment and Excess Regular Cash Dividend Amount Distribution on 3.5% Senior Exchangeable Debentures Due 2031
Qurate Retail, Inc. (Qurate Retail) (Nasdaq: QRTEA, QRTEB, QRTEP) today announced the payment of a semi-annual interest payment and an excess regular cash dividend amount distribution to the holders as of January 1, 2021 of the 3.5% Senior Exchangeable Debentures due 2031 (the "Debentures") issued by its direct wholly-owned subsidiary, Liberty Interactive LLC (LI LLC).
- Qurate Retail, Inc. (Qurate Retail) (Nasdaq: QRTEA, QRTEB, QRTEP) today announced the payment of a semi-annual interest payment and an excess regular cash dividend amount distribution to the holders as of January 1, 2021 of the 3.5% Senior Exchangeable Debentures due 2031 (the "Debentures") issued by its direct wholly-owned subsidiary, Liberty Interactive LLC (LI LLC).
- The amount of the payment is $17.50 per $1,000 original principal amount of Debentures, and the excess regular cash dividend amount distribution is $4.1552 per Debenture.
- Under the Indenture for the Debentures, the original principal amount of the Debentures is adjusted in an amount equal to each Extraordinary Additional 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 3.5% of the adjusted principal amount.