QVC exchanges ~89% of 2027/2028 notes for new 6.875% notes and cash

QVC INC

92.4% of 2027 notes ($531M) and 85.4% of 2028 notes ($427M) tendered; total ~$958M.
Settlement expected Sept 25; issues ~$604.5M new 6.875% Senior Secured Notes due 2029 and pays ~$352M cash.
Parent LI LLC contributes ~$277M cash to fund portion of consideration.
Exchange reduces debt balance and extends maturities, improving QVC's credit profile.

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