[Satellite Today 06-26-09] Sirius XM Radio has increased the offering size of senior notes belonging to subsidiary XM Satellite Radio, due 2013, to about $525 million from the original offer of $350 million, Sirius XM announced June 25.
    The notes will bear interest at an annual rate of 11.25 percent, with the price to investors set at 95 percent of the principal amount of the notes. The company will receive gross proceeds of $499.9 million from the sale before deducting the initial purchaser’s commissions and estimated offering expenses, Sirius XM said.
    The net proceeds will be used to repay all amounts outstanding under its amended and restated credit agreement to replace the $150 million second-lien credit agreement with Liberty Media Corp. and to refinance or repay its other debt.