Sirius XM Holdings Inc. announced that its subsidiary, Sirius XM Radio LLC, has commenced a private offering of $1 billion in Senior Notes due 2032. The company intends to use the proceeds, along with cash on hand, to fund a concurrent cash tender offer for any and all of its outstanding 3.125% Senior Notes due 2026, effectively refinancing its near-term debt.
Key Details
- New Debt Offering: A private placement of $1,000,000,000 aggregate principal amount of Senior Notes maturing in 2032.
- Debt Tender Offer: A cash tender offer for any and all of the $1,000,000,000 outstanding principal of its 3.125% Senior Notes due 2026.
- Use of Proceeds: To purchase, redeem, or discharge the outstanding 3.125% Senior Notes due 2026.
- Tender Offer Expiration: The offer is scheduled to expire at 5:00 p.m., New York City time, on March 4, 2026.