XM Offers Senior Secured Notes
June 22, 2009 at 4:42 AM (PT)
XM SATELLITE RADIO, a wholly owned indirect subsidiary of SIRIUS XM Radio, TODAY (6/22) announced the offering of $350 million in aggregate principal amount of Senior Secured Notes due 2013 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the UNITED STATES in compliance with Regulation S under the Securities Act.
XM will use the net proceeds from the offering to repay all amounts outstanding under its amended and restated credit agreement. The balance of the net proceeds will be used for general corporate purposes.