The funding will come in two phases. The first phase includes a $280 million senior secured loan from Liberty to Sirius XM — $250 million of which will be funded immediately. The proceeds of that loan will be used to repay $171.6 million of notes due Feb. 17 and for general corporate purposes, including working capital and transaction costs.Liberty Media Gives Bailout to Sirius XM :: Satellite Today
Tuesday, February 17, 2009
Liberty Media Gives Bailout to Sirius XM :: Satellite Today
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