Sirius XM will offer $600 million in senior notes. Image credit: Sirius XM

[Satellite TODAY 7-29-13] Sirius XM radio intends to offer $600 million of senior notes, due in 2021, to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The offering as amended is within compliance of Regulation S of the Securities Act.

      SiriusXM intends to use the net proceeds from any such offering, together with cash on hand, to redeem its outstanding 8.75 percent of senior notes due in 2015.

       The securities will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.