2023-03-08 06:53:18 ET
- Liberty Media Corporation ( NASDAQ: LSXMA ) has priced a private offering $500M of 3.75% convertible senior notes due March 15, 2028.
- Initial purchasers granted an option to purchase up to an additional $75M of Notes.
- The notes will be convertible into shares of Liberty’s Series A Liberty SiriusXM common stock.
- Interest will be payable semi-annually in arrears on March 15 and September 15 of each year, commencing September 15, 2023.
- The offering is expected to close on March 10, 2023.
- Net proceeds expected to be approximately $491M which will be used together with the other cash amounts to repurchase a total of $703M of Liberty’s existing 1.375% cash convertible notes due 2023 and adjusted principal amount of Liberty’s existing 2.125% exchangeable senior debentures due 2048 at a cost of $774M.
For further details see:
Liberty Media prices private offering of $500M of 3.75% convertible senior notes due 2028