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Reuters: XM Sells $525M in Notes

6/25/2009 11:58:00 AM Eastern

New York. — XM Satellite Radio, now a subsidiary of Sirius XM, has sold $525.75 million of four-year, senior-secured notes instead of the $350 million originally planned, reported Reuters, quoting IFR, a Thomson Reuters service.

The offering appears to have won more demand than originally expected, allowing Sirius XM to possibly retire a higher proportion of its debt, said Barrington Research analyst James Goss.

XM had announced Monday, an offering of $350 million in senior secured notes to institutional buyers to repay debt.

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