XM completes bond tender, sees $475 mln financing

Newswire

WASHINGTON, Jan 24 (Reuters) - XM Satellite Radio Inc. said on Friday it completed a tender offer for $300.2 million of senior notes, a move the subscription radio service said paves the way for it to obtain $475 million of financing from General Motors Corp. and a group of investors. XM, based in Washington, D.C., said tendering bondholders will receive new 14 percent senior secured discount notes maturing in 2009, as well as warrants to buy XM common stock, in exchange for their 14 ...

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