Sirius XM Raises $350 Million Debt Financing To Pay Off Debt
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]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry