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Thread: SrirusXM & Liberty complete 2nd half of deal

  1. #1
    bababoooie is offline
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    Joined: Mar 2009 Posts: 140

    SrirusXM & Liberty complete 2nd half of deal

    A new day.... A new way
    Details:NEW YORK, March 6 /PRNewswire-FirstCall/

    SIRIUS XM also announced that XM Satellite Radio, a wholly owned subsidiary of SIRIUS XM, amended and extended its existing $350 million credit facilities. XM Satellite Radio's existing term loan and revolving loan have been rolled into a single term loan facility. As previously agreed, Liberty has purchased $100 million aggregate principal amount from the lenders.
    Liberty has committed to loan an additional $150 million to XM Satellite Radio, to be used to repay a portion of the outstanding principal amount of 10% Convertible Notes due December 1, 2009 of XM Satellite Radio Holdings Inc.
    Under the existing terms of their agreement, SIRIUS XM has issued Liberty an aggregate of 12.5 million shares of new preferred stock convertible into 40% of the common stock of SIRIUS XM. J.P. Morgan Securities acted as financial advisor to SIRIUS XM in connection with the transactions. UBS and Lazard Freres & Co. LLC acted as financial advisor to Liberty Media Corporation.
    Last edited by bababoooie; 03-06-2009 at 02:35 PM.

  2. #2
    SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Bababooie bababooie, bababooie!

    2009 is debt is OUT OF THE WAY!!!!

    Made my day. This stock needed some Viagra. Rise, baby rise.

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