Liberty Media Closes On Note Offering

Closes On Notes

LIBERTY MEDIA CORPORATION has closed on its private offering of $1 billion of its 1.375% Cash Convertible Senior Notes due 2023.  The total includes $100 million of notes issued pursuant to the initial purchasers’ option to purchase additional notes, which was exercised in full on OCTOBER 11th. 

The company says it will use the net proceeds to fund privately negotiated cash convertible note hedge and warrant transactions with counterparties including certain of the initial purchasers and to pay down a portion of its outstanding margin loans, with the rest expected to be used for general corporate purposes.
 

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