Sirius’ XM Division Offers $350 Million In Debt
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The XM Satellite unit of Sirius XM Radio (NSDQ: SIRI) (Nasdaq: SIRI) is offering $350 million to help is parent repay its heavy debt load. The notes, which are due in 2013, will be sold to institutional investors. The debt issuance follows the February rescue of Sirius by Liberty Media (NSDQ: LINTA), which struck a deal to invest $530 million in Sirius XM as the satellite radio company was on the brink of bankruptcy. Release
By David Kaplan
@davidaKaplan
Jun 22, 2009 9:52 AM ET
@davidaKaplan
Jun 22, 2009 9:52 AM ET
Posted In: Media & Publishing, Radio, Money
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