Qurate Retail Announces Semi-Annual Interest Payment and Additional Distribution on 4.0% Senior Debentures
Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) has announced the payment of a semi-annual interest installment and Regular Additional Distribution to holders of its 4.0% Senior Exchangeable Debentures due 2029. These debentures were issued by Liberty Interactive LLC (“LI LLC”), a wholly-owned subsidiary of Qurate Retail.
Payment Details:
- Interest Payment: $20.00 per $1,000 original principal amount.
- This includes $18.0874 as interest and $1.9126 as repayment of principal.
- Regular Additional Distribution: $0.4302 per $1,000 original principal amount.
- Attributable to T-Mobile US, Inc.’s quarterly cash dividends paid in June and September 2024.
The adjusted principal amount of the debentures will be reduced to $902.4550 following the latest payment. However, the semi-annual interest payment remains based on an annualized yield of 4.0% of the original principal amount, ensuring no change in the total interest payment received by holders.
Background on Adjustments:
Under the debenture terms, extraordinary distributions reduce the original principal amount. To date, one such adjustment occurred on August 7, 2013, following the merger of Sprint Nextel Corporation and SoftBank Corp.
Additional Details:
- Record Date: November 1, 2024
- Payment Date: November 15, 2024
- The adjusted principal amount will not be reduced by the Regular Additional Distribution.
Following T-Mobile’s 2020 acquisition of Sprint Corporation, each $1,000 original principal amount of the debentures is tied to reference shares:
- 0.3309 shares of T-Mobile US, Inc. (Nasdaq: TMUS)
- 0.7860 shares of Lumen Technologies, Inc. (NYSE: LUMN)
About Qurate Retail:
Qurate Retail, Inc. operates six leading retail brands—QVC®, HSN®, Ballard Designs®, Frontgate®, Garnet Hill®, and Grandin Road®. A Fortune 500 company, Qurate is the largest player in video-driven shopping, leveraging platforms like TV, ecommerce, streaming, and social media to reach over 200 million homes globally. The company also operates QVC+ and HSN+ streaming services and maintains a presence through websites, apps, catalogs, and in-store destinations.
For further details, visit Qurate Retail’s official site.
