Sirius XM adds $1.1B delayed draw term loan via Amendment No. 9 to credit agreement

SIRIUS XM HOLDINGS INC.

New $1.1B delayed draw incremental term loan added to existing $1.75B revolver and $500M term loan.
Available in up to three draws until Dec 31, 2024 for working capital, buybacks, dividends, and M&A.
Draw conditioned on consummation of planned Merger and Splitoff with Liberty Media (Limited Condition Transaction).
Loan secured by substantially all assets of Sirius XM and its material domestic subsidiaries.
Arranged by JPMorgan Chase, BofA Securities, and Morgan Stanley.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

SIRIUS XM HOLDINGS INC. amended Amendment No. 9 to Credit Agreement with JPMorgan Chase Bank, N.A. valued at Amendment No. 9 provides for certain changes to the Credit Agreement, including the addition of a $1 (effective 2024-01-26).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: Amendment No. 9 provides for certain changes to the Credit Agreement, including the addition of a $1
Effective: 2024-01-26

Exact text from the filing

On January 26, 2024, Sirius XM Radio Inc. ("Sirius XM"), our subsidiary, entered into an amendment ("Amendment No. 9") to its existing credit agreement 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 0000930413-24-000436

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