Simpson Thacher Represents Sirius XM Radio Inc. in $1 Billion Senior Notes Offering
05.16.13
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Simpson Thacher represented Sirius XM Radio Inc. (“SiriusXM”) in connection with its offering of $500 million aggregate principal amount of 4.25% Senior Notes due 2020 and $500 million aggregate principal amount of 4.625% Senior Notes due 2023 in reliance on Rule 144A and Regulation S. SiriusXM intends to use the proceeds of this offering for general corporate purposes, including the repayment of all outstanding drawings under its existing credit facility.
SiriusXM (Nasdaq: SIRI) is the world's largest radio broadcaster measured by revenue and has 24.4 million subscribers. SiriusXM creates and broadcasts commercial-free music, premier sports talk and live events, comedy, news, exclusive talk and entertainment, and the most comprehensive Latin music, sports and talk programming in radio.
The Simpson Thacher team for the transaction included Gary Sellers, Lia Toback and Joo Hyun Lee (Capital Markets); Jonathan Cantor and Chang Won Choi (Tax); and Jamin Koslowe (Executive Compensation and Employee Benefits).