Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WASHINGTON (AFX) - Liberty Media Interactive, a holding company investing in various media and entertainment companies, said Tuesday in a filing with the Securities and Exchange Commission that it has entered a $1.75 billion credit agreement for its subsidiary QVC Inc.
The Oct. 4 agreement, with lenders Bank of America and JP Morgan Securities Inc., consists of an $800 million initial term loan expected to close on Oct. 13, and $950 million of delayed draw term loans that are available until Sept. 30, 2007. The company will use the proceeds to finance working capital needs and for general funding of its subsidiary QVC Inc.
Shares of Liberty Media Interactive rose 21 cents to $21.37 in midday trading on the Nasdaq. Earlier in the session, shares peaked at a new 52-week high of $21.40, topping a previous high of $21.24 set Monday. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
