Sponsored Links 
SIRIUS XM Refinancing Debt
Print
Share
Sirius XM Radio Inc. (SIRI - Analyst Report) is going to offer $800 million of senior notes in a private placement. These notes will bear a coupon of 8.75% and mature in 2015. The company will use the proceeds to pay down a portion of the $1.8 billion of debt maturing in 2013. This move will boost the company’s liquidity position.
Liberty Media Corp. (LCAPB), an affiliate of the issuer, intends to purchase $150 million of the notes in the offering. The size of the new issue was increased from an originally planned amount of $550 million. The price to investors will be 100% of the principal amount of the notes. The company will receive gross proceeds of $800 million from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.
Liberty Media Corp. (LCAPB), an affiliate of the issuer, intends to purchase $150 million of the notes in the offering. The size of the new issue was increased from an originally planned amount of $550 million. The price to investors will be 100% of the principal amount of the notes. The company will receive gross proceeds of $800 million from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.
Read the full analyst report on SIRI
Read the full analyst report on LCAPB
Loading Stories...
-74.92