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SiriusXM to Offer $1.5 Billion of 4.125% Senior Notes
RADIO ONLINE | Wednesday, June 10, 2020 |
SiriusXM has priced an offering of $1.5 billion of 4.125% Senior Notes due 2030. The sale is expected to be consummated on or about June 11. These notes will bear interest at an annual rate of 4.125%. The price to investors will be 100% of the principal amount and the company will receive gross proceeds of $1.5 billion from the sale before deducting the initial purchasers' commissions and estimated offering fees and expenses. SiriusXM intends to use the net proceeds from the offering, together with cash on hand, to redeem all of its outstanding 5.375% Senior Notes due 2025.
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