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XM Satellite Radio to offer $400M of senior notes

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By AP
21 July 2008 @ 08:07 am EST

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WASHINGTON _ - XM Satellite Radio Holdings Inc. said Monday that it is offering $400 million of new senior notes to help refinance debt related to its pending merger with Sirius Satellite Radio Inc.

Quotes

XMSR	8.17	-1.11
SIRI	0.14	0

The offering will be made to qualified institutional buyers and structured to unwind if the merger is not completed, the company said in a statement.

The merger awaits approval by the Federal Communications Commission.

(This version CORRECTS heds to $400M sted $40M)

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