SiriusXM Selling $750 Million Of Notes In Private Deal
May 18, 2016 at 6:35 AM (PT)
SIRIUSXM RADIO INC. is selling $750 million of Senior Notes due 2026 in a private placement to institutional buyers. The proceeds will be used by SIRIUSXM to repay all borrowings outstanding under its revolving credit facility and for general corporate purposes, including to fund the company's participation in the recapitalization of SIRIUS XM CANADA HOLDINGS INC.
The company has priced $1 billion of the notes at full principal amount with an interest rate of 5.375%.