The Firm represented XM Satellite Radio Inc. (“XM”) in connection with its Rule 144A and Regulation S offering of $700 million aggregate principal amount of 7.625% Senior Notes due 2018 (the “7.625% Notes”). XM, a wholly-owned subsidiary of SIRIUS XM Radio Inc., used a portion of the proceeds of the offering to fund its cash tender offer and consent solicitation (the “Tender Offer”) for any and all of its outstanding 11.25% Senior Secured Notes due 2013 (the “11.25% Notes”). XM will use the remaining proceeds for general corporate purposes, including for the repurchase, redemption, defeasance or repayment of any 11.25% Notes not purchased in the Tender Offer or the repurchase, redemption, defeasance or repayment of other indebtedness.
SIRIUS XM Radio is America’s satellite radio company, broadcasting more than 135 channels of commercial-free music, and premier sports, news, talk, entertainment, traffic, weather, and data services to 19.9 million subscribers in cars, trucks, boats and aircraft, and through a wide range of mobile devices. SIRIUS XM Radio offers an array of content from some of the biggest names in entertainment, as well as from professional sports leagues, major colleges, and national news and talk providers. SIRIUS XM programming is also available at sirius.com and xmradio.com, and on Apple iPhone and iPod touch, BlackBerry and Android-powered mobile devices using the SIRIUS XM Premium Online App.
The Simpson Thacher team for these transactions included: Gary Sellers, John Lobrano, John Ericson, Mark Brod, Joseph Green and Kate Yoon (Capital Markets), Erik Hepler and Vanessa Bressler (Credit), Jonathan Cantor and Chang Won Choi (Tax), Mindy Lok (Intellectual Property), and Jamin Koslowe (Executive Compensation and Employee Benefits). Paralegal John Oberbeck also provided invaluable assistance.