Market Overview

SIRIUS XM Radio Intends To Offer $400 Million Of Senior Notes Due 2022

SIRIUS XM Radio (NASDAQ: SIRI) intends to offer $400 million of Senior Notes due 2022 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 intends to use the net proceeds from any such offering for general corporate purposes, which may include, from time to time and as market conditions warrant, the repurchase, redemption, defeasance, tender or repayment of our outstanding indebtedness, including our 13% Senior Notes due 2013. Pending application of these amounts as provided above, we currently expect to maintain any excess amount as cash on hand.

Posted-In: News Financing

 

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