SiriusXM to Offer $1 Billion of Senior Notes

By on May, 18 2016 with Comments 0

Sirius XMSiriusXM Radio Inc. intends to offer $1 billion of Senior Notes to qualified investors. That’s more than the original $750 million planned.

The notes are due in 2026.

The satcaster would use a portion of the net proceeds to repay debt under its revolving credit facility and general corporate purposes. That could include borrowings from its revolving credit facility or loans to its parent corporation, to fund share repurchases of SiriusXM common stock and fees related to SiriusXM’s recapitalization of Sirius XM Canada Holdings Inc.

About The Author: Leslie Stimson has been a reporter for 35+ years, starting in radio news. She’s spent the last 20 years reporting for radio trades.

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