Liberty Announces Adjustment To The Conversion Rate Of Its 1.375% Cash Convertible Senior Notes
November 19, 2014 at 8:47 AM (PT)
LIBERTY MEDIA has made an adjustment to the conversion rate of its 1.375% Cash Convertible Senior Notes due 2023. The new conversion rate is 21.0859 shares of LIBERTY’s Series A common stock per $1,000 principal amount of Cash Convertible Notes, up from the previous conversion rate of 15.7760 shares of LMCA.
LIBERTY is adjusting the conversion rate due to the completion of the previously-announced distribution, as a dividend, of all of the common stock of LIBERTY BROADBAND CORPORATION to holders of LIBERTY’s Series A common stock, Series B common stock and Series C common stock as of 5p (ET) on OCTOBER 29th.