Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily

XM Offers $400M Senior Notes in Pre-Merger Financing

July 21, 2008 at 7:32 am PT

The great satellite radio merger inches ever closer.

This morning, XM Satellite Radio (XMSR) announced a $400-million offering of senior notes, which it said is “part of a series of transactions to refinance certain debt,” in connection with its pending merger with Sirius Satellite Radio (SIRI). The company said the deal was structured in a way that would allow it to be unwound if the merger is not completed. The deal still awaits final approval from the FCC.

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Tagged with: Barrons, Eric Savitz, FCC, frontpage, merger, Sirius Satellite Radio, Tech Trader Daily, XM Satellite Radio

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