SiriusXM Radio Inc. intends to offer $1 billion of Senior Notes to qualified investors. That’s more than the original $750 million planned.
The notes are due in 2026.
The satcaster would use a portion of the net proceeds to repay debt under its revolving credit facility and general corporate purposes. That could include borrowings from its revolving credit facility or loans to its parent corporation, to fund share repurchases of SiriusXM common stock and fees related to SiriusXM’s recapitalization of Sirius XM Canada Holdings Inc.