Sirius XM to offer $725 million of five-year, $1.0 billion of 10-year high-yield bonds

Sirius XM Radio Inc. SIRI, -0.31% said Monday it’s planning to issue $750 million of five-year and $1.25 billion of 10-year high-yield bonds. Proceeds will be used along with cash on hand to redeem all $1.0 billion of the company’s outstanding 5.375% senior notes due 2026. Shares were up 0.5% premarket and have gained 1.6% in the year through Friday, while the S&P 500 SPX, -0.54% has gained 17%.

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