Financing ·
Liberty Media Corporation announced the proposed private offering of $600 million aggregate principal amount of…
FWONALiberty Media Corp
Liberty Media Corporation announced the proposed private offering of $600 million aggregate principal amount of convertible senior notes due 2032 under Rule 144A. The company expects to grant an option for purchasers to buy up to an additional $90 million in notes within 13 days of issuance. These unsecured obligations will be convertible into cash, Series C common stock (FWONK), or a combination at the issuer's election, with interest payable semi-annually. Liberty Media intends to use net proceeds to enter into capped call transactions related to its existing 2027 convertible notes and for working capital and general corporate purposes, including potential repayment of those 2027 notes. The terms, including interest rate and initial conversion rate, will be determined at pricing. Liberty Media Corporation operates and owns interests in media, sports and entertainment businesses, including Formula 1 and MotoGP.