Qurate Retail Announces Quarterly Interest Payment on 1.0% Senior Exchangeable Debentures Due 2043

ENGLEWOOD, Colo.--()--Qurate Retail, Inc. (“Qurate Retail”) (Nasdaq: QRTEA, QRTEB) today announced the payment of a quarterly interest payment to the holders as of June 15, 2018 of the 1.0% Senior Exchangeable Debentures due 2043 (the "Debentures") issued by its direct wholly-owned subsidiary, Liberty Interactive LLC (“LI LLC”). The amount of the quarterly interest payment is $2.50 per $1,000 original principal amount of Debentures. As of June 30, 2018, 900 Debentures remained outstanding in the aggregate adjusted principal amount of $774,882, after giving effect to today’s quarterly interest payment.

Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced 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 quarterly interest payment date to the extent necessary to cause the quarterly interest payment to represent the payment of an annualized yield of 1.0% 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, LI LLC has made one Extraordinary Additional Distribution to holders of the Debentures. On March 19, 2015, LI LLC made an Extraordinary Additional Distribution of $134.5800 per $1,000 original principal amount of the Debenture resulting from the declaration and payment by HSN, Inc. (“HSNi”) of a special cash dividend of $10.00 per share to HSNi shareholders of record as of February 9, 2015.

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 1.0% 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:

June 30, 2018
Beginning Adjusted
Principal

      Payment       Interest      

Payment of
Principal

     

June 30, 2018 Ending
Adjusted Principal

$861.3267       $2.50       $2.1533       $0.3467       $860.9800
                       

About Qurate Retail, Inc. (formerly Liberty Interactive Corporation)

Qurate Retail, Inc. operates and owns interests in a broad range of digital commerce businesses. Qurate Retail, Inc.’s businesses and assets consist of its subsidiaries QVC, Inc., HSN, Inc., and zulily, llc (collectively, the Qurate Retail Group) as well as its interests in ILG and FTD, among other things.

Contacts

Qurate Retail, Inc.
Courtnee Chun, 720-875-5420

Release Summary

Qurate Retail announces quarterly interest payment on 1.0% Senior Exchangeable Debentures due 2043

Contacts

Qurate Retail, Inc.
Courtnee Chun, 720-875-5420