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Sirius XM will sell $250 million in new notes to re-pay debt
In February, Sirius XM received a $530 million investment from Liberty Media, which at the time was a lifeline to stave off potential bankruptcy. The proceeds from this new offering, from notes that will come due in 2015, will pay back a part of Liberty Media’s investment. It was just last week that Sirius XM reported a $157 million quarterly loss, blamed on debt-related charges and the troubled auto industry, as well as the loss of nearly 200,000 subscribers.
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