[Satellite TODAY 03-16-10] Sirius XM Radio is attempting to raise $800 million through a debt sale that carries 8.75 percent interest per year over five years, the company announced March 15.
The senior notes, due to investors in 2015, will be used to redeem all of Sirius XM’s outstanding 9.62 percent interest debt due in 2013, including premiums and accrued and unpaid interest.
The satellite broadcaster also will use the money to prepay its borrowings under its senior secured term loan due in 2012 and to pay fees and expenses related to the offering.
Sirius XM to Raise $800 Million in Debt Sale
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