Rochester, NY 8/17/2009 7:40:28 PM
SIRIUS XM Radio Inc., SIRI - Sirius XM to Raise $250M to Pay Off Liberty Media
SIRIUS XM Radio Inc.
Sirius XM Radio will be selling $250 million debt notes in order to pay off some of the money it borrowed from Liberty Media Corp. earlier this year as a step of the company to avoid of bankruptcy and company’s possible take over by Charlie Ergen’s Dish Network Corporation.
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The step from the company to refinance the debt with notes due in 2015 would relieve the New York City-based satellite radio company, SIRI of having to pay the $530 million in loans carrying 15 percent annual interest it took from Douglas County-based Liberty Media.
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