Did XM just refied 100Mil loan??
Well if I'm reading that right, I should shut up a few critics, but since I'm no expert I'd appreciate some comments from folks that are better at deciphering these financial statements.
On June 26, 2008, XM Satellite Radio Inc. and XM Satellite Radio Holdings Inc. entered into a Credit Agreement relating to a $100 million term loan (the “Credit Agreement”) with UBS AG, Stamford Branch, as Administrative Agent and the lenders party thereto................The Credit Agreement includes market rate syndication and commitment fees, interest and expenses, and, similar to the Original Facility, has a scheduled maturity date of May 5, 2009, will survive if our pending merger with Sirius Satellite Radio is consummated, and is secured by substantially all of XM’s assets other than specified property (on a pari passu basis with the Original Facility).
Sorry cant provide a link to the specific doc but from the XM wesite;
Click on the doc for 6/26/08 then look under "Entry into a Material Definitive Agreement"