Liberty Media supplements indenture of 1.375% convertibles

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Liberty Media Corp. entered into a second supplemental indenture with U.S. Bank Trust Co., NA on Aug. 3 to the indenture dated Oct. 17, 2013 governing Liberty’s 1.375% cash convertible senior notes due 2023 to give effect to a reclassification.

On Aug. 3, Liberty Media completed a previously announced reclassification of its existing Liberty SiriusXM common stock and Liberty Formula One common stock into three new tracking stocks: new Liberty SiriusXM common stock, new Liberty Formula One common stock and Liberty Live common stock.

The supplemental indenture amends the conversion, adjustments and other provisions of the indenture to give effect to the reclassification and provides that the conversion consideration due upon conversion of any note shall consist of 23.1586 per bond of (a) 0.2547 of a share of new series A Liberty Formula One common stock, (b) 0.265 of a share of new series A Liberty Live common stock and (c) 1.0163 shares of new Series A Liberty SiriusXM common stock.

Liberty Media is an Englewood, Colo.-based media, communications and entertainment company.

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