Subsequent Events |
6 Months Ended |
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Jun. 30, 2017 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
Debt Transactions
On June 27, 2017, Sirius XM issued a redemption notice pursuant to the indenture governing the 4.25% Notes to redeem all of its 4.25% Notes. The 4.25% Notes were redeemed on July 27, 2017 at 101.063% of the principal amount thereof plus accrued and unpaid interest thereon from May 15 through July 26, 2017 for a total amount of $509,565. This redemption will result in a Loss on extinguishment of debt and credit facilities, net, of approximately $8,393 in the third quarter of 2017.
On July 5, 2017, Sirius XM issued a redemption notice pursuant to the indenture governing the 5.75% Notes to redeem all of its 5.75% Notes. The 5.75% Notes will be redeemed on August 4, 2017 at 102.875% of the principal amount thereof plus accrued and unpaid interest thereon from August 1 through August 3, 2017 for a total amount of $617,538. This redemption will result in a Loss on extinguishment of debt and credit facilities, net, of approximately $20,963 in the third quarter of 2017.
On July 5, 2017, Sirius XM issued $750,000 aggregate principal amount of 3.875% Senior Notes due 2022 (the “3.875% Notes”) and $1,250,000 aggregate principal amount of 5.00% Senior Notes due 2027 (the “5.00% Notes”). For both series of notes, interest is payable semi-annually in arrears on February 1 and August 1, commencing on February 1, 2018. The 3.875% Notes will mature on August 1, 2022 and the 5.00% Notes will mature on August 1, 2027.
Capital Return Program
For the period from July 1, 2017 to July 25, 2017, we repurchased 13,314 shares of our common stock on the open market for an aggregate purchase price of $72,135, including fees and commissions.
On July 11, 2017, our board of directors declared a quarterly dividend on our common stock in the amount of $0.01 per share of common stock payable on August 31, 2017 to stockholders of record as of the close of business on August 10, 2017.
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