XM Adds 300K Subscribers & $400M Debt

WASHINGTON, DC (Hypebot) –
XM Satellite Radio added 322,000 new net subscribers in the second quarter of '08 for a total of 9,653,000. This mark a 17% increase since the end of the second quarter of '07.

The company also announced an offering of $400 million senior notes. It's part of a series of transactions to refinance debt prior to the pending merger with SIRIUS. The offering will be structured in a manner that "will permit it to be unwound if the merger is not consummated".

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