Liberty Media owns $279 million of Sirius XM bonds as of Sept. 30

By Angela McDaniels

Tacoma, Wash., Nov. 9 - Liberty Media Corp. purchased $84 million principal amount of bonds issued by Sirius XM Radio Inc. for $74 million during the third quarter, according to Liberty Media's 10-Q report for the quarter filed with the Securities and Exchange Commission on Monday.

The company also sold $13 million principal amount of Sirius bonds for $13.4 million.

As of Sept. 30, Liberty Media had invested $611 million of cash and had received scheduled debt repayments, cash from the Sirius refinancings and bond sales proceeds totaling $425 million, resulting in a net cash investment of $186 million.

This investment has resulted in Liberty owning $279 million principal amount of Sirius public bonds and Sirius preferred stock that is convertible into 40% the company's fully diluted equity.

Sirius XM is a New York-based satellite radio company.

Liberty Media is an Englewood, Colo., entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.