SiriusXM To Offer $750 MIllion In Senior Notes Due In 2025
March 4, 2015 at 12:09 PM (PT)
SIRIUSXM announced today that it intends to offer $750 million of Senior Notes due 2025 to qualified institutional buyers.
The company intends to use the net proceeds from the offering for general corporate purposes, which may include the paying down of outstanding debts, including any loans under its revolving credit facility, and to fund repurchases of common stock. The company currently expects to maintain any excess amount as cash on hand.
The securities have not been and will not be registered under the SECURITIES ACT, or any state securities laws, and may not be offered or sold in the U.S. without registration, except under an exemption from the registration requirements of the SECURITIES ACT and applicable state securities laws.
This announcement is neither an offer to sell nor a solicitation to buy any of these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful.