Key Developments: Liberty Interactive Corp (LINTA.O)
22.90USD
22 May 2013
$-0.29 (-1.25%)
$23.19
$23.07
$23.43
$22.82
1,606,423
2,840,400
$24.31
$15.93
Latest Key Developments (Source: Significant Developments)
Liberty Interactive Corp's QVC, Inc. Prices $1.05 Billion Of New Senior Secured Notes
QVC, Inc. announced the pricing of $750 million principal amount of new 4.375% senior secured notes due 2023 and $300 million principal amount of new 5.950% senior secured notes due 2043 (collectively, the Notes). The Notes will be secured by a first-priority lien on the capital stock of QVC, which is the same collateral that secures QVC's existing secured indebtedness and certain future indebtedness. The net proceeds from the offering will be used, together with cash on hand, to fund QVC’s cash tender offer for any and all of its $500 million aggregate principal amount of 7.125% senior secured notes due 2017 and up to $250 million aggregate principal amount of its 7.50% senior secured notes due 2019. To the extent that the net proceeds from the sale of the Notes exceeds the amount of funds required to purchase the tendered notes, then any excess funds will be used for general corporate purposes, which may include the refinancing of indebtedness under QVC’s senior secured credit facility. The offering is expected to close on or about March 18, 2013, subject to customary closing conditions. QVC, Inc. is a wholly-owned subsidiary of Liberty Interactive Corporation. Full Article
Liberty Interactive Corp Acquires Voting Control Of TripAdvisor Inc
Liberty Interactive Corp and TripAdvisor Inc ("TripAdvisor") announced that Liberty has purchased a total of 4,799,848 shares of common stock of TripAdvisor from Barry Diller and The Diller-von Furstenberg Family Foundation at a price of $62.50 per share. As part of the transaction, Mr. Diller`s right to control the vote of the shares of TripAdvisor`s common stock and Class B common stock that are beneficially owned by Liberty has been terminated and Liberty now controls a majority voting stake in TripAdvisor. Giving effect to the transactions, Liberty owns and controls 18,159,752 shares of common stock and 12,799,999 shares of Class B common stock of TripAdvisor, representing approximately 22% of the equity and 57% of the total votes of all classes of TripAdvisor common stock. Liberty has attributed the shares of TripAdvisor common stock that it owns to its Liberty Ventures tracking stock group. Full Article
Liberty Interactive Corporation's QVC, Inc. Completes Issuance Of $500 million Of New Senior Secured Notes
Liberty Interactive Corporation's wholly-owned subsidiary QVC, Inc. announced the completion of the previously announced offering of $500 million principal amount of new 5.125% Senior Secured Notes due 2022 at par (the Notes). The Notes will be secured by a first-priority lien on the capital stock of QVC, which is the same collateral that secures QVC`s existing secured indebtedness and certain future indebtedness. The net proceeds of the offering will be used for general corporate purposes, which may include the refinancing of indebtedness under QVC`s existing senior secured credit facility. Full Article
Liberty Interactive Corporation's QVC, Inc. Prices $500 Million of New Senior Secured Notes
QVC, Inc., a wholly-owned subsidiary of Liberty Interactive Corporation announced the pricing of $500 million principal amount of new 5.125% Senior Secured Notes due 2022 at par (the Notes). The Notes will be secured by a first-priority lien on the capital stock of QVC, which is the same collateral that secures QVC`s existing secured indebtedness and certain future indebtedness. The net proceeds of the offering will be used for general corporate purposes, which may include the refinancing of indebtedness under QVC`s existing senior secured credit facility. The offering is expected to close on or about July 2, 2012, subject to customary closing conditions. QVC will make the offering pursuant to an exemption under the Securities Act of 1933, as amended. The Notes will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act. In connection with the offering of the Notes, QVC will agree, subject to certain conditions, to file a registration statement relating to a registered offer to exchange the Notes for new registered notes having substantially identical terms as the Notes. Full Article
Liberty Interactive Corporation's QVC, Inc Announces Proposed Senior Secured Notes Offering
QVC, Inc., a wholly-owned subsidiary of Liberty Interactive Corporation announced its intention to offer $500 million in aggregate principal amount of senior secured notes due 2022 (the Notes). The Notes will be secured by a first-priority lien on the capital stock of QVC, which is the same collateral that secures QVC’s existing secured indebtedness and certain future indebtedness. The net proceeds from the offering will be used for general corporate purposes, which may include the refinancing of indebtedness under QVC’s existing senior secured credit facility. Full Article
Liberty Interactive Corp Announces Plan to Recapitalize into Two Tracking Stocks
Liberty Interactive Corp announced that its board of directors has approved the recapitalization of its common stock into shares of the corresponding series of two new tracking stocks, Liberty Interactive and Liberty Ventures. In the recapitalization, Liberty stockholders will receive one share of the corresponding series of Liberty Interactive group tracking stock for each share of series A or series B Liberty common stock they own and one share of the corresponding series of Liberty Ventures group tracking stock for every 20 shares of series A or series B Liberty common stock they own. In addition, stockholders will also receive a subscription right to acquire one additional series A or series B share for every three shares of series A or three shares of series B Liberty Ventures tracking stock they receive in the recapitalization. The subscription rights are being issued to raise capital for general corporate purposes of the Liberty Ventures tracking stock group, including investment in new business opportunities to be attributed to that group. Full Article
Liberty Interactive Corporation Announces Chief Financial Officer Appointment
Liberty Interactive Corporation announced that Christopher W. Shean has been appointed to the position of Senior Vice President and Chief Financial Officer effective as of November 1. Full Article
Liberty Interactive Corporation Completes Split-off Of Liberty Media Corporation
Liberty Interactive Corporation (f/k/a Liberty Media Corporation, Liberty) announced that it completed the split-off of Liberty Media Corporation (f/k/a Liberty CapStarz, Inc., Splitco), which holds the businesses, assets, and liabilities formerly attributed to Liberty’s Liberty Capital and Liberty Starz tracking stocks, at 5:00 p.m., New York City time on September 23, 2011. As a result, Splitco is now a separate publicly traded company. As announced earlier, in connection with the closing, Liberty has changed its name to 'Liberty Interactive Corporation', and Splitco has changed its name to 'Liberty Media Corporation'. Full Article
Liberty waits for chairman's bid for Barnes & Noble stores
- Liberty Media Corp , which holds a large stake in Barnes & Noble, said on Wednesday it has the power to block a sale of Barnes & Nobles' retail stores and it is waiting to see whether the bookseller's chairman Leonard Riggio will make an offer.
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