XM Offers To Buy Back Notes
August 5, 2008 at 5:50 PM (PT)
SIRIUS XM RADIO INC. subsidiary XM SATELLITE RADIO INC. is offering to buy back any of its outstanding Senior Floating Rate Notes due 2013, with a price of $1,010 for each $1,000 principal amount of the notes. The offer expires at 12:01a ET SEPTEMBER 4th unless extended. $200 million of the notes are outstanding; XM plans to use cash on hand to finance the repurchases.
GLOBAL BONDHOLDER SERVICES CORP. will act as the Information Agent for the transaction.