Connectivity

Sirius XM Plans to Raise $350 Million

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[Satellite Today 06-23-09] Sirius XM Radio has offered $350 million in XM Satellite Radio senior secured notes, due 2013, to qualified institutional buyers, Sirius XM announced June 22.
    Sirius XM said its subsidiary will use the net proceeds from the offering to repay all amounts outstanding under its amended and restated credit agreement, with the balance of the net proceeds will be used for general corporate purposes.
    The securities being sold have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration, except pursuant to an exemption from applicable state securities laws.

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