Sirius XM To Offer New Senior Notes
March 12, 2010 at 9:04 AM (PT)
SIRIUS XM RADIO intends to offer $550 million of Senior Notes due 2015 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 of the Securities Act.
SIRIUS XM will use the net proceeds from any such offering to redeem all of the Company's 9 5/8% Senior Notes due 2013 and pay fees and expenses of the offering, including premium and accrued and unpaid interest on the notes being redeemed. The Company intends to use any remaining net proceeds for general corporate purposes.