Sirius XM Radio Inc. (NASDAQ:SIRI) created a new iPhone application to try to get new business last May. Now Sirius is attempting to raise $350 million debt financing through 4 year senior secured notes according to an SEC filing. Sirius needs money to pay off debt. This past February Liberty Media Corporation invested $530 million to keep Sirius afloat instead of filing bankruptcy.
[via BusinessInsider]
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