Sirius XM Holdings Inc (SIRI) has released an update to notify the public and investors about an entry into a material definitive agreement.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
On January 26, 2024, Sirius XM Radio Inc. amended its credit agreement, introducing a $1.1 billion delayed draw incremental term loan with the option for three separate draws until December 31, 2024. This amendment, involving JPMorgan Chase and other institutions, allows Sirius XM to access additional funds for corporate purposes, while the company’s obligations remain guaranteed by its material domestic subsidiaries and secured by a lien on their assets. The amendment also permits Sirius XM to increase commitments or incur new loans, with the credit agreement participants potentially engaging in further commercial dealings and receiving customary fees.
For further insights into SIRI stock, check out TipRanks’ Stock Analysis page.
