Sirius XM amends credit agreement to allow $1.1B secured bridge facility

SIRIUS XM HOLDINGS INC.

Amendment No. 8 permits $1.1B senior secured 364-day term loan bridge facility (Space Bridge Facility) to be secured on same collateral as existing credit facility.
Bridge facility intended for general corporate purposes; lenders include JPMorgan, Morgan Stanley, Bank of America.
Credit agreement amended to treat Space Bridge Facility obligations as permitted additional debt with equal lien priority.
Borrower is wholly owned subsidiary Sirius XM Radio Inc.; parent guarantees and collateral covers substantially all assets.
No default or event of default occurred; representations and warranties true and correct as of effective date December 29, 2023.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SIRIUS XM HOLDINGS INC. amended Amendment No. 8 with JPMorgan Chase Bank, N.A., as the administrative agent, and other agents and lenders (effective 2023-12-29).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as the administrative agent, and other agents and lenders
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Sirius XM Radio Inc. (the “Borrower”), a wholly owned subsidiary of Sirius XM Holdings Inc. (“SiriusXM”), entered into an amendment (“Amendment No. 8”) to its existing senior secured credit facilities with JPMorgan Chase Bank, N.A., as the administrative agent, and other agents and lenders (the “Credit Agreement”).

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Source: SEC EDGAR

accession 0000930413-24-000018

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