Liberty Media Prices $444.6M Private Debt Offering - Broadcasting & Cable

Liberty Media Prices $444.6M Private Debt Offering

Debentures backed by Time Warner stock, will be used for general, acquisition purposes
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Liberty Media priced and agreed to sell to initial purchasers $444.6 million in 2.25% exchangeable senior debentures due 2046 in a private offering.

The debt securities are backed by Time Warner shares owned by Liberty and upon exchange Liberty could offer Time Warner stock, cash or a combination of both. Liberty first announced its intention to issue the debentures Thursday.

Liberty currently holds about 4.3 million shares of Time Warner stock, or less than 1% of the media company’s outstanding stock.

The offering is expected to close on Aug. 17, subject to satisfaction of customary closing conditions.

For the full story go to Multichannel.com.

(Photo via Ervins Strauhmanis's FlickrImage taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)

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