LSXMB - Sirius XM Radio to raise $1.5B for funding redemption of 3.875% senior notes due 2022

Sirius XM Radio, a subsidiary of SiriusXM ([[SIRI]] +0.1%) intends to offer $1.5B of senior notes due 2028. The company intends to use the net proceeds to redeem all of its outstanding 3.875% senior notes due 2022 and to repay, in part, borrowings outstanding under its senior secured credit facility.Beginning August 1, the company may redeem the 3.875% senior notes due 2022 at 100.000% of the principal amount thereof plus accrued and unpaid interest.

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Sirius XM Radio to raise $1.5B for funding redemption of 3.875% senior notes due 2022