Sirius XM Raises $2.5B Via Upsized Institutional Senior Note Offering To Refinance Debt - Sirius XM Holdi

Sirius XM Holdings Inc's (NASDAQ:SIRI) subsidiary, Sirius XM Radio Inc., priced $1.0 billion of 3.125% Senior Notes due 2026 and $1.5 billion of 3.875% Senior Notes due 2031 in an upsized secondary institutional offering.
It represents an increase of $250 million in the offering size of the 2026 Notes and $250 million in the offering size of the 2031 Notes.
The offering proceeds together with cash on hand and borrowings under its senior secured credit facility will help redeem all $1.0 billion of its outstanding 5.375% Senior Notes due 2026 and $1.5 billion of its outstanding 4.625% Senior Notes due 2024.
Sirius XM held $1.1 billion in cash and equivalents as of Jun. 30. It had $8.8 billion in long-term debt and $1.75 billion in revolving credit facility.
Price action: SIRI shares closed higher by 0.31% at $6.49 on Monday.

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