Liberty Interactive Corp.'s unit Liberty Interactive LLC will pay an extraordinary additional distribution to the holders of its 0.75% exchangeable senior debentures due 2043.
The company on March 1 will pay $11.9399 per $1,000 original principal amount of debentures, attributable to the cash consideration of $18.50 per share to former holders of common stock of Time Inc. on Jan. 31 in connection with the acquisition of Time Inc. by Meredith Corp.
The adjustments to the principal amount of debentures will not affect the amount of semiannual interest payments received by the debenture holders, which will continue to be a rate equal to 0.75% per annum of the original principal amount, the release added.
