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XM Satellite Radio sells $700 mln notes - IFR

Thu Jul 24, 2008 11:21am EDT

NEW YORK, July 24 (Reuters) - XM Satellite Radio Inc, a unit of XM Satellite Holdings Inc XMSR.O, on Thursday sold $700 million of senior notes in the 144a private placement market, said International Financing Review.

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The notes were priced to yield 16.00 percent and were sold through lead managers JP Morgan, Morgan Stanley and UBS, said International Financing Review. The notes were priced with a 13 percent coupon at a discount of 89.93 cents on the dollar. The face amount of the notes was $778.5 million, up from an originally planned $400 million. (Reporting by Pam Niimi; Editing by James Dalgleish)

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