QVC, Inc. Announces Results of Its Cash Tender Offer for Its Outstanding 4.375% Senior Secured Notes Due 2023
16 Junio 2022 - 6:00AM
Business Wire
QVC, Inc. (“QVC”) announced today the expiration and results of
its previously announced cash tender offer (the “Tender Offer”) to
purchase any and all of its outstanding 4.375% Senior Secured Notes
due 2023 (the “2023 Notes”).
QVC is a wholly-owned subsidiary of Qurate Retail, Inc. (Nasdaq:
QRTEA, QRTEB and QRTEP).
The Tender Offer expired at 5:00 p.m., New York City time, on
June 15, 2022 (the “Expiration Time”). As of the Expiration Time,
an aggregate principal amount of $535,340,000 or approximately
71.38%, of the 2023 Notes were validly tendered and not validly
withdrawn, which amount excludes $1,149,000 aggregate principal
amount of the 2023 Notes that remain subject to guaranteed delivery
procedures. QVC has accepted for payment all 2023 Notes validly
tendered prior to the Expiration Time pursuant to the settlement
procedures described in the Offer to Purchase, dated June 9, 2022.
QVC also expects to accept for payment all 2023 Notes that remain
subject to guaranteed delivery procedures and to make payment for
such 2023 Notes on June 21, 2022.
Requests for documents relating to the Tender Offer may be
directed to D.F. King & Co., Inc., the Information Agent, at
(800) 714-3311 (Toll-Free) or (212) 269-5550, by email at
QVC@dfking.com, or via the following web address:
www.dfking.com/QVC. BofA Securities and J.P. Morgan Securities LLC
acted as the Joint Dealer Managers for the Tender Offer. Questions
regarding the Tender Offer may be directed to the Joint Dealer
Managers at the contact information shown below:
BofA Securities Collect: (980) 388-3646 Email:
debt_advisory@bofa.com
J.P. Morgan Securities LLC Toll Free: (866) 834-4666 Collect:
(212) 834-4045
This press release is for informational purposes only and does
not constitute a notice of redemption under the optional redemption
provisions of the indenture governing the 2023 Notes, nor does it
constitute an offer to sell, or a solicitation of an offer to buy,
any security, nor does it constitute a solicitation for an offer to
purchase any security, including the 2023 Notes.
Forward-Looking Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, statements about the
repurchase of the 2023 Notes pursuant to the Tender Offer. These
forward-looking statements involve many risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such statements, including, without
limitation, general market conditions. These forward-looking
statements speak only as of the date of this press release, and QVC
expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statement contained
herein to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statement is based. Please refer to the publicly
filed documents of QVC, including the most recent Forms 10-K and
10-Q, for additional information about QVC and about the risks and
uncertainties related to the business of QVC which may affect the
statements made in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220615006182/en/
Courtnee Chun 720-875-5420
QVC Media Relations 484-701-1647 SOURCE QVC, Inc.
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