Simpson Thacher Represents Sirius XM Radio Inc. in $600 Million Senior Notes Offering
08.01.13
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Simpson Thacher represented Sirius XM Radio Inc. (“SiriusXM”) in connection with its offering of $600 million aggregate principal amount of 5.75% Senior Notes due 2021 in reliance on Rule 144A and Regulation S. SiriusXM intends to use the net proceeds of this offering, together with cash on hand, to redeem its outstanding 8.75% Senior Notes due 2015.
SiriusXM (NASDAQ: SIRI) is the world's largest radio broadcaster measured by revenue and has more than 25 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 Ben Baucom (Capital Markets); Jonathan Cantor and Chang Won Choi (Tax); and Jamin Koslowe (Executive Compensation and Employee Benefits).