Liberty says $561.99 million, £81.52 million Telewest bonds tendered by first deadline

New York, June 27 - Liberty Media Corp. said a total of $561.88 million and £81.52 million of Telewest Communications plc bonds were tendered by the early payment deadline in its offer to buy the company's debt securities.

Three of the eight series of bonds subject to the offer were oversubscribed by the time the early payment deadline expired at 5.00 p.m. ET on June 26. Holders who tender by the deadline receive an additional $30 or £30 per $1,000 or £1,000 principal amount.

Liberty also said it now owns a further $472 million principal amount of notes and debentures of the series covered by the tender including $210 million principal amount purchased on June 26 in two privately negotiated transactions at prices below the amounts being offered in the tender.

Liberty announced the tender on June 12, saying it would buy up to $697 million and £101 million of Telewest bonds in the offer, which is being conducted via its Liberty TWSTY bonds, Inc. subsidiary. The securities covered by the tender have $3.486 billion and £505 million outstanding and Liberty said the transaction is conditional on at least 20% being tendered.

The tender expires at 5.00 p.m. ET on July 11.

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