The new notes, due in 2030, will redeem notes due in 2023 and 2025. SiriusXM will raise $1.5 senior notes due 2030 in a sale expected to close on or around June 11, the company announced Monday (June 8).
The notes will have an annual rate of 4.125% and will be due 2030. They will pay off off two existing debts: $500 million of 4.625% senior notes that are due 2023 (at a redemption price of 100.771% plus accrued and unpaid interest) and $1 billion of 5.375% Senior Notes due 2025, (at a redemption price of 102.688% of the principal amount plus accrued and unpaid interest). Why It Matters —SiriusXM won’t need to worry about $1.5 billion of debt for nearly a decade.