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Thread: Sirius Weekly Thread Week 03-08-2010

  1. #11
    SiriMonkey is offline
    Quote Originally Posted by proactiv View Post
    Welcome to you both! This a great forum with a lot of great people. In my time on this forum I have leaned that almost everyone here is friendly, outgoing, willing to share, spar, and enjoy humor together. Looking forward to seeing more of you.


    Would you like to name names on the 'Almost' Proact? That way we
    can show these guys how we spar.

    Julie

    P.S. Welcome!!

  2. #12
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882

    Revised Debt Offering: $800mm not $500

    SIRIUS XM Radio Prices Offering of $800 Million of Senior Notes Due 2015





    NEW YORK, March 12, 2010 /PRNewswire via COMTEX News Network/ -- SIRIUS XM Radio (Nasdaq: SIRI) priced an offering of $800 million of Senior Notes due 2015.

    (Logo: http://www.newscom.com/cgi-bin/prnh/...19/NYTU044LOGO )

    The notes, which were offered pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "Securities Act"), will bear interest at an annual rate of 8.75%. 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.

    SIRIUS XM will use the net proceeds from the offering to redeem all of its outstanding 9-5/8% Senior Notes due 2013, including premiums and accrued and unpaid interest thereon; to prepay in full all of its borrowings under its senior secured term loan that matures in 2012; and to pay fees and expenses related to the offering. SIRIUS XM intends to use any remaining net proceeds for general corporate purposes.

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