Sirius XM sells some bonds


Sirius XM announced that it had priced an offering of $257 million of Senior Secured Notes due 2015. They will bear interest at an annual rate of 9.75%.

The price to investors will be 97.248% of the principal amount of the notes. The company will receive gross proceeds of $249,927,360 from the sale of the notes before deducting the initial purchasers’ commissions and estimated offering expenses.

Sirius XM said it will use the net proceeds from the offering to repay indebtedness incurred under its Credit Agreement with Liberty Media Corporation.