By Michael Dabaie
Sirius XM Holdings Inc. said its subsidiary, Sirius XM Radio Inc., plans to offer $1 billion of senior notes due 2030.
The company said it intends to use the net proceeds, together with cash on hand, to redeem all of its outstanding 5.375% senior notes due 2025 at a redemption price of 102.688% of the principal amount plus accrued and unpaid interest thereon to, but excluding, the redemption date.
Shares of the audio entertainment company were up 1.1% to $6.58 premarket.
Write to Michael Dabaie at michael.dabaie@wsj.com