Qurate Retail announces quarterly interest payment on 1.0% Senior Exchangeable Debentures due 2043

ENGLEWOOD, Colo.–(BUSINESS WIRE)–Qurate Retail, Inc. (“Qurate Retail”) (Nasdaq: QRTEA, QRTEB) today
announced the payment of a quarterly interest payment to the holders as
of December 15, 2018 of the 1.0% Senior Exchangeable Debentures due 2043
(the “Debentures”) issued by its direct wholly-owned subsidiary, Liberty
Interactive LLC (“LI LLC”). The amount of the quarterly interest payment
is $2.50 per $1,000 original principal amount of Debentures. As of
December 31, 2018, 900 Debentures remained outstanding in the aggregate
adjusted principal amount of $774,256, after giving effect to today’s
quarterly interest payment.

Under the Indenture for the Debentures, the original principal amount of
the Debentures is reduced in 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
quarterly interest payment date to the extent necessary to cause the
quarterly interest payment to represent the payment of an annualized
yield of 1.0% 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 a reduction 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, LI LLC has made one Extraordinary Additional Distribution to
holders of the Debentures. On March 19, 2015, LI LLC made an
Extraordinary Additional Distribution of $134.5800 per $1,000 original
principal amount of the Debenture resulting from the declaration and
payment by HSN, Inc. (“HSNi”) of a special cash dividend of $10.00 per
share to HSNi shareholders of record as of February 9, 2015.

Reductions to the principal amount of the Debentures do not affect the
amount of the quarterly interest payments received by holders of the
Debentures, which will continue to be a rate equal to 1.0% per annum of
the original principal amount of the Debentures. Below is a detail of
the amount of the quarterly interest payment being made on the
Debentures, its allocation between payment of interest and repayment of
principal and the revised adjusted principal amount of the Debentures
resulting from such payment, per $1,000 original principal amount of the
Debentures:

December 31, 2018
Beginning Adjusted
Principal

 

 

 

Payment

 

 

 

Interest

 

 

 

Payment of
Principal

 

 

 

December 31, 2018
Ending Adjusted
Principal

$860.6325

 

 

 

$2.50

 

 

 

$2.1516

 

 

 

$0.3484

 

 

 

$860.2841

 

 

 

 

 

 

 

 

 

 

 

 

About Qurate Retail, Inc.

Qurate Retail, Inc. operates and owns interests in a broad range of
digital commerce businesses. Qurate Retail, Inc.’s businesses and assets
consist of its subsidiaries QVC, Inc., HSN, Inc., and zulily, llc
(collectively, the Qurate Retail Group) as well as its interest in FTD,
among other things.

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