Under the Indenture for the Debentures, the original principal amount of the Debentures is reduced by 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 semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 4.0% 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 an adjustment 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, there has been one Extraordinary Additional Distribution to
holders of the Debentures. On
Adjustments to the principal amount of the Debentures do not affect the
amount of the semi-annual interest payments received by holders of the
Debentures, which will continue to be a rate equal to 4.0% per annum of
the original principal amount of the Debentures. Below is a detail of
the amount of the semi-annual interest payment being made on the
Debentures announced today, its allocation between payment of interest
and repayment of principal and the revised adjusted principal amount
resulting from such payment, per
November 15, 2018 Beginning |
Total |
Interest |
Additional Payment |
November 15, 2018 Ending |
|||||||||||||||||
$924.5944 | $20.0000 | $18.4919 | $1.5081 | $923.0863 | |||||||||||||||||
The semi-annual interest payment and regular additional distribution are
expected to be paid on
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Source:
Qurate Retail, Inc.
Courtnee Chun, 720-875-5420