Le Lézard
Classified in: Sports and recreation
Subjects: Dividend, Bond Issue

Liberty Media Corporation Announces Quarterly Interest Payment and Excess Regular Additional Distribution on 2.125% Exchangeable Senior Debentures Due 2048


Liberty Media Corporation ("Liberty") (NASDAQ: LSXMA, LSXMB, LSXMK, FWONA, FWONK, BATRA, BATRK) today announced the payment of a quarterly interest payment and an Excess Regular Additional Distribution to the holders as of September 15, 2022 of its 2.125% Exchangeable Senior Debentures due 2048 (the "Debentures"). The amount of the quarterly interest payment is $5.3125 per $1,000 original principal amount of Debentures, and the amount of the Excess Regular Additional Distribution is $1.3668 per $1,000 original principal amount of Debentures. As of September 30, 2022, the aggregate adjusted principal amount outstanding is approximately $387 million, after giving effect to today's quarterly interest payment. Capitalized terms used but not defined herein have the meaning given to them in the Indenture for the Debentures.

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 2.125% 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 March 4, 2022, Liberty made an Extraordinary Additional Distribution of $31.1731 per $1,000 original principal amount of Debentures, which was attributable to the special cash dividend paid on February 25, 2022 by Sirius XM Holdings Inc. ("SIRI") to holders of its common stock of record as of the close of business on February 11, 2022.

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 2.125% 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 $1,000 original principal amount of the Debentures:

September 30, 2022
Beginning Adjusted
Principal

Payment

Interest

Payment of
Principal

September 30, 2022
Ending Adjusted
Principal

$968.6613

$5.3125

$5.1460

$0.1665

$968.4948

Liberty is also making an Excess Regular Additional Distribution to holders of the Debentures as of September 15, 2022 of $1.3668 per Debenture, which is attributable to the regular quarterly dividend paid by SIRI of $0.0219615 per share on August 31, 2022. The payment of the Excess Regular Additional Distribution will not result in a reduction to the adjusted principal amount of the Debentures.

The quarterly interest payment and Excess Regular Additional Distribution are expected to be made on September 30, 2022 to holders of record of the Debentures as of September 15, 2022.

About Liberty Media Corporation

Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. The businesses and assets attributed to the Liberty SiriusXM Group (NASDAQ: LSXMA, LSXMB, LSXMK) include Liberty Media Corporation's interests in SiriusXM and Live Nation Entertainment. The businesses and assets attributed to the Braves Group (NASDAQ: BATRA, BATRK) include Liberty Media Corporation's subsidiary Braves Holdings, LLC. The businesses and assets attributed to the Formula One Group (NASDAQ: FWONA, FWONK) consist of all of Liberty Media Corporation's businesses and assets other than those attributed to the Liberty SiriusXM Group and the Braves Group, including its subsidiary Formula 1, its interest in Liberty Media Acquisition Corporation and other minority investments.


These press releases may also interest you

at 08:10
Technology company Continental announced its exclusive radar sensor technology sponsorship of the Indy Autonomous Challenge (IAC). The IAC is a broadly collaborative effort that brings together public-private partnerships and academic institutions to...

at 08:00
The Saskatchewan Roughrider Foundation is partnering with the Mental Health Commission of Canada (MHCC) to bring The Working Mind Sports training to all varsity football athletes in Saskatchewan....

at 07:42
The Fédération Internationale de l'Automobile and Greater Than announced Thierry Benchetrit as the winner of the FIA Smart Driving Challenge (FIA SDC) Season 2022 following the final taking place in Bologna, Italy on the occasion of the FIA Annual...

at 07:10
The winters may be gentle in Hong Kong, but the festive spirit here shines bright in the region. Heartstring-tugging, romance-inviting Christmas décor is just part and parcel of the whole holiday experience ? and here are five dazzlingly...

at 07:00
Montreal will welcome a brand new American-league professional basketball team that will call Centre Pierre-Charbonneau home beginning in March 2023. You are invited to mark the occasion on Thursday, December 8 at 11:00 a.m. where detailed...

at 07:00
LootMogul is listed as one of the top sports metaverse projects. As researched by web3 Studios and reported by VentureBeat, this vertical is expected to grow exponentially to $80 billion by 2030....



News published on 30 september 2022 at 16:20 and distributed by: