Liberty greenshoe exercised, increases exchangeables to $400 million

By Angela McDaniels

Tacoma, Wash., Sept. 9 - The underwriters for Liberty Interactive LLC's issue of senior debentures exchangeable into shares of HSN Inc. exercised their $50 million over-allotment option in full, increasing the size of the issue to $400 million from $350 million.

Parent company Liberty Interactive Corp. announced the greenshoe exercise in a news release on Monday.

As previously reported, the issuer priced the 30-year exchangeables on Sept. 4 at par to yield 1% with an initial exchange premium of 37.5%.

BNP Paribas Securities Corp., Barclays, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and Credit Agricole Securities (USA) Inc. were the joint bookrunners.

Proceeds will be used for general corporate purposes.

Englewood, Colo.-based Liberty Interactive owns interests in electronic retailing, media communications and entertainment businesses.

St. Petersburg, Fla.-based HSN is an interactive multi-channel retailer.

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