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Sirius XM Radio Inc. Prices Offering of $1.5 Billion of 4.125% Senior Notes Due 2030
NEW YORK, June 8, 2020 /PRNewswire/ -- SiriusXM announced today that its subsidiary, Sirius XM Radio Inc., priced an offering of $1.5 billion of 4.125% Senior
About this update from Siriusxm Holdings Inc.
[{"type":"text","content":"NEW YORK, June 8, 2020 /PRNewswire/ -- SiriusXM announced today that its subsidiary, Sirius XM Radio Inc., priced an offering of $1.5 billion of 4.125% Senior Notes due 2030. This represents an increase of $500 million in aggregate principal amount in the offering size of the notes. The sale of the notes is expected to be consummated on or about June 11, 2020, subject to customary closing conditions.\nThe notes are to be sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States in compliance with Regulation S of the Securities Act.\nThe notes will bear interest at an annual rate of 4.125%. The price to investors will be 100% of the principal amount of the notes. The company will receive gross proceeds of $1.5 billion from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.\nThe company intends to use the net proceeds from this offering, together with cash on hand, to redeem all of its outstanding 5.375% Senior Notes due 2025 at a redemption price of 102.688% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the redemption date and to redeem all of its outstanding 4.625% Senior Notes due 2023 at a redemption price of 100.771% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the redemption date.\nThe securities have not been and will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.\nThis announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful. This announcement does not constitute a notice of redemption of the 5.375% Senior Notes due 2025 or of the 4.625% Senior Notes due 2023.\nAbout SiriusXM\nSirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in the U.S., and the premier programmer and platform for subscription and digi...