XM Satellite Radio Prices $175M Debt Offering
By Staff Writer | June 13, 2003
XM Satellite Radio [Nasdaq: XMSR] has priced a $175 million high-yield offering of 12 percent senior secured notes due 2010 guaranteed by the parent company, XM Satellite Radio Holdings. The closing is expected to occur on Tuesday, subject to customary closing conditions. In addition, XM has granted the initial purchaser an option to purchase up to an additional $25 million of notes to cover over-allotments.