QVC, Inc. Announces Results of Its Cash Tender Offer for Its Outstanding 4.375% Senior Secured Notes Due 2023
WEST CHESTER, PA – 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principal amount of $535,340,000, or approximately 71.38%, of the 2023 Notes were validly tendered and not validly withdrawn, which amount excludes the $1,149,000 aggregate principal amount of the 2023 Notes that remain subject to guaranteed delivery procedures.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:
Collect: (980) 388-3646
J.P. Morgan Securities LLC
Toll-Free: (866) 834-4666
Collect: (212) 834-4045