Rochester, NY 8/19/2009 8:44:33 AM
SIRIUS XM Radio Inc., SIRI - Sirius XM Set to Raise $250M to Repay Liberty Media
SIRIUS XM Radio Inc.
Sirius XM Radio will be selling $250 million of the company’s debt notes to repay some of the money it borrowed from Liberty Media Corp. earlier this year to avoid bankruptcy and a possible take over by Charlie Ergen’s Dish Network Corp.
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The notes which are due on 2015 that would refinance the company’s debts will relieve the satellite radio company of paying some the $530 million in loans carrying 15 percent annual interest the company borrowed from Douglas County-based Liberty Media.
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