Liberty Media Adjusts Conversion Rate Of 1.375% Senior Notes Due 2023

(RTTNews) - Liberty Media Corp. (LMCA, LMCB and LMCK) late Tuesday announced an adjustment to the conversion rate of its 1.375 percent Cash Convertible Senior Notes due 2023.

The new conversion rate is 21.0859 shares of Liberty's Series A common stock or LMCA per $1,000 principal amount of Cash Convertible Notes, up from the previous conversion rate of 15.7760 shares of LMCA.

Liberty is adjusting the conversion rate due to the completion of the previously-announced distribution, as a dividend, of all of the common stock of Liberty Broadband Corp. to holders of Liberty's Series A common stock, Series B common stock and Series C common stock.