Summary by Moomoo AI
On January 26, 2024, Sirius XM Holdings Inc., through its subsidiary Sirius XM Radio Inc., amended its existing credit agreement, which previously included a $1.75 billion senior secured revolving credit facility and a $500 million incremental term loan. The amendment, known as Amendment No. 9, was facilitated by JPMorgan Chase Bank, N.A., as the administrative agent, along with BofA Securities, Inc., Morgan Stanley Senior Funding, Inc., and other agents and lenders. The key change introduced by this amendment is the addition of a $1.1 billion delayed draw incremental term loan, which Sirius XM can draw upon in up to three separate instances until December 31, 2024. The credit agreement's obligations are guaranteed by Sirius XM's material domestic subsidiaries and secured by a lien on nearly...Show More