Sirius XM said Monday it's planning to offer $1 billion of 10-year bonds with plans to use the proceeds to redeem existing debt. The digital music company said it will redeem all outstanding 5.375% senior notes that mature in 2025, at a redemption price of 102.688% of the principal. Shares were up 1.1% premarket, but have fallen 9% in the year to date, while the S&P 500 has fallen 1.1%.
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