SiriusXM and its lenders have agreed on an amendment to the satellite broadcaster’s existing credit agreement that pushes the window on its existing debt down the road, while increasing maximum borrowing capacity by another $250 million.
In an SEC filing, SiriusXM disclosed that it on August 20 updated its credit agreement with JPMorgan Chase and other lenders. The revision pushes the maturity of the company’s revolving credit facility from 2025 to August 31, 2030, and increases the total available borrowing amount from $1.75 billion to $2 billion.
The amendment comes at a moment of active financial maneuvering for SiriusXM. Alongside the credit extension, the company recently priced a $1.25 billion private placement of 6.625% Senior Notes due 2032, with proceeds aimed at redeeming $1.2 billion in 5.5% Senior Notes maturing in 2026. The redemption is scheduled for August 27.
However, the agreement includes a “springing maturity” clause: if the company still has large debts due and doesn’t have enough money to cover them 91 days before the 2030 due date, the extended loan could be called in sooner.
SiriusXM also retains the ability to further expand the credit agreement via incremental facilities, subject to lender approval.
In July, the company reported Q2 2025 revenue of $2.14 billion, down 2% year over year, as strong podcast ad growth helped offset declines in overall advertising and self-pay subscribers, which dropped by 68,000. Despite lowered expectations, SiriusXM reaffirmed its full-year guidance of $8.5 billion in revenue.
