Closing is targeted for Aug. 13, 2026. The notes mature on Aug. 15, 2032, and Liberty Media may redeem them starting Aug. 20, 2029.
Formula One Group parent Liberty Media priced a private offering of USD 600 million of 2.375% convertible senior notes due 2032.
The initial purchasers hold a 13-day option to buy up to an additional USD 90 million, which could lift total proceeds to USD 690 million.
The notes convert into Liberty Media Series C (FWONK) at 7 shares per USD 1,000 of principal, implying an initial conversion price of USD 138.68.
Net proceeds of about USD 591 million are expected. Liberty Media said the funding will help cover capped call costs tied to its 2.25% convertible senior notes due 2027.
