XM Satellite has $450 million financing package


WASHINGTON, Dec 23 (Reuters) - XM Satellite Radio Inc. , a satellite radio broadcaster, on Monday said it has reached financing agreements totaling $450 million that should provide the cash needed until operations reach break-even. The Washington-based company said the package includes $200 million from a sale of notes convertible into common stock at $3.18 a share, and a small concurrent stock sale. Also, General Motors Co. , which is installing XM radios in 25 different 2003 vehicle ...

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