Sirius XM Radio is selling $250 million debt notes to repay some of the money it borrowed from Liberty Media Corp. earlier this year to avoid bankruptcy and a possible a takeover by Charlie Ergen’s Dish Network Corp.
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Refinancing the debt with notes due in 2015 would relieve the New York City-based satellite radio company of paying some the $530 million in loans carrying 15 percent annual interest it took from Douglas County-based Liberty Media.
The 40 percent ownership stake Liberty Media acquired by rescuing Sirius XM from default in February is unaffected by the refinancing.
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