Sirius XM (SIRI) To Offer $750 Million Of Senior Notes due 2026 and $1.25 Billion of Senior Notes due 2031

SiriusXM announced today that its subsidiary, Sirius XM Radio Inc., intends to offer, subject to market conditions, $750 million of Senior Notes due 2026 and $1.25 billion of Senior Notes due 2031 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.

The company intends to use the net proceeds from this offering, together with cash on hand, to redeem all $1.0 billion of its outstanding 5.375% Senior Notes due 2026 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 $1.0 billion of its outstanding 4.625% Senior Notes due 2024 at a redemption price of 102.313% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the redemption date.

The 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.

This 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 2026 or the 4.625% Senior Notes due 2024.

You May Also Be Interested In

• Progress Software Corporation (PRGS) Issues Statement on a Possible Offer for MariaDB
• Stem, Inc. (STEM) Appoints Gerard Cunningham to its Board
• EVe Mobility Acquisition Corp (EVE) Receives NYSE Non-compliance Notice