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New Issue-XM Satellite Radio sells $525.75 mln notes

Thu Jun 25, 2009 10:19am EDT

Stocks

    
 June 25 (Reuters) - XM Satellite Radio Inc, a unit of
Sirius XM Radio Inc (SIRI.O) sold $525.75 million of four-year
senior secured notes in the 144a private placement market on
Thursday, said IFR, a Thomson Reuters service.
 The size of the deal was increased from an originally
planned $350 million.
 JP Morgan was the sole bookrunning manager for the sale.
BORROWER: XM SATELLITE RADIO INC
AMT $525.75 MLN*  COUPON 11.25 PCT    MATURITY 6/15/2013 
TYPE SR SEC NTS   ISS PRICE 95.093    FIRST PAY 12/15/2009
MOODY'S Caa1      YIELD 12.875 PCT    SETTLEMENT 6/30/2009
S&P SINGLE-B      SPREAD 1057 BPS     PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 2 YEARS**
 *$499.951448 MLN PROCEEDS TO ISSUER
**CALL SCHEDULE: 106.625, 100
  MAKE-WHOLE CALL 50 BPS

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