Sirius XM Secures $1.1 Billion Incremental Term Loan

Sirius XM Holdings Inc (SIRI) has released an update to notify the public and investors about an entry into a material definitive agreement.

Sirius XM Radio Inc. amended its credit agreement with JPMorgan Chase Bank and others by adding a $1.1 billion delayed draw incremental term loan, which can be drawn in up to three parts until December 31, 2024. This loan, arranged by BofA Securities, Morgan Stanley Senior Funding, and JPMorgan Chase Bank, is part of a larger credit facility that Sirius XM uses for general corporate purposes and is secured by the assets of Sirius XM and its material domestic subsidiaries. The amendment also allows for further credit increases or new debts under certain conditions.

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