Washington
– Satellite radio firm Sirius XM (NASD: SIRI) said that it has raised $800 million though an
offering of senior notes, due in 2015.
The company said that it will use the
proceeds to redeem notes due in 2013, as well as prepay borrowings under its
term loan that matures in 2012.
Liberty Media (NASD: LINTA), which last year acquired a 40%
stake in Sirius XM, planned to purchase $150 million of the notes.
The company
raised the size of the offering, which originally was expected to net $550
million.
Related Links:
http://investor.sirius.com/releasedetail.cfm?ReleaseID=451664
