Sirius XM Radio (SIRI +3.8%) plans to offer $400M of senior notes due in 2022. The company says...

|About: Sirius XM Holdings Inc. (SIRI)|By:, SA News Editor

Sirius XM Radio (SIRI +3.8%) plans to offer $400M of senior notes due in 2022. The company says it will use the proceeds from the offering to pay down debt and redeem higher paying notes. Shares of SIRI are up on the day, possibly influenced by news that Liberty Media will pile up some cash by spinning off Starz.