SIRIUS Satellite Radio (Nasdaq: SIRI) announced that it completed the $250 million senior secured term loan from Morgan Stanley Senior Funding, Inc.

News Source: Stockwire - http://www.stockwire.com
 
  SIRIUS Satellite Radio (Nasdaq: SIRI) announced that it completed the $250   million senior secured term loan from Morgan Stanley Senior Funding, Inc. The   issue was very well received in the marketplace with strong demand and   attractive pricing.  
 
  The loan will   mature in five and one-half years and has financial covenants substantially   similar to those under the Company's existing 9 5/8% Senior Notes. The interest   rate on the loan is established at LIBOR (rounded to the nearest 1/16th) plus   225 basis points, which is 7.625% today. The proceeds will be used for general   corporate purposes. Morgan Stanley acted as the sole lead arranger.
 
  About SIRIUS
 
  On February 19, 2007 SIRIUS and XM Satellite Radio   entered into a merger agreement to combine the companies' businesses. Boards of   both companies have approved the merger. The completion of the merger is subject   to various closing conditions, including obtaining the approval of stockholders   and XM's stockholders and receiving certain regulatory and anti-trust approvals,   including from the Federal Communications Commission (FCC) and the Department of   Justice (DOJ) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
 
  SIRIUS believes that its merger with XM will close by the end of 2007.   Support for the transaction continues to grow; numerous organizations have come   out to voice their support at the FCC, including the National Black Chamber of   Commerce, the Latino Coalition, the League of United Latin American Citizens,   the League of Rural Voters, the National Taxpayers Union, the National Consumer   League, Women Involved in Farm Economics and Women Impacting Public Policy.
 
  SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of   the best programming in all of radio. SIRIUS is the original and only home of   100% commercial free music channels in satellite radio, offering 69 music   channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment,   traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the   NFL, NASCAR, NBA and NHL, and broadcasts live play-by- play games of the NFL,   NBA and NHL, as well as live NASCAR races. All SIRIUS programming is available   for a monthly subscription fee of only $12.95.
 
  SIRIUS Internet Radio   (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service,   without the use of a radio, for the monthly subscription fee of $12.95. SIR   delivers more than 75 channels of talk, entertainment, sports, and 100%   commercial free music.
 
  SIRIUS products for the car, truck, home, RV and   boat are available in more than 25,000 retail locations, including Best Buy,   Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and   at shop.sirius.com.
 
  SIRIUS radios are offered in vehicles from Audi,   Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep , Land Rover, Lexus,   Lincoln, Mercury, Maybach, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Rolls   Royce, Scion, Toyota, Volkswagen, and Volvo. Hertz also offers SIRIUS in its   rental cars at major locations around the country.
 
  Click on   www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and   subscription.
 
  During pre-market trading shares are up 3% to $2.93 with   over 800,000 in volume.
 
  As the saying goes...follow the money!

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