| Schedule of Long-term Debt Instruments |
Our debt as of March 31, 2015 and December 31, 2014 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying value at (a)
|
|
|
Issuer / Borrower
|
|
Issued
|
|
Debt
|
|
Maturity Date
|
|
Interest Payable
|
|
Principal Amount
|
|
|
March 31, 2015
|
|
|
December 31, 2014
|
|
|
Sirius XM
(b)
|
|
May 2013
|
|
4.25% Senior Notes
(the "4.25% Notes")
|
|
May 15, 2020
|
|
semi-annually on May 15 and November 15
|
|
$
|
500,000
|
|
|
$
|
495,714
|
|
|
$
|
495,529
|
|
|
Sirius XM
(b)
|
|
September 2013
|
|
5.875% Senior Notes
(the "5.875% Notes")
|
|
October 1, 2020
|
|
semi-annually on April 1 and October 1
|
|
|
650,000
|
|
|
|
644,017
|
|
|
|
643,790
|
|
|
Sirius XM
(b)
|
|
August 2013
|
|
5.75% Senior Notes
(the "5.75% Notes")
|
|
August 1, 2021
|
|
semi-annually on February 1 and August 1
|
|
|
600,000
|
|
|
|
595,245
|
|
|
|
595,091
|
|
|
Sirius XM
(b)
|
|
May 2013
|
|
4.625% Senior Notes
(the "4.625% Notes")
|
|
May 15, 2023
|
|
semi-annually on May 15 and November 15
|
|
|
500,000
|
|
|
|
495,235
|
|
|
|
495,116
|
|
|
Sirius XM
(b)
|
|
May 2014
|
|
6.00% Senior Notes
(the "6.00% Notes")
|
|
July 15, 2024
|
|
semi-annually on January 15 and July 15
|
|
|
1,500,000
|
|
|
|
1,484,230
|
|
|
|
1,483,918
|
|
|
Sirius XM
(b)(c)
|
|
March 2015
|
|
5.375% Senior Notes
(the "5.375% Notes")
|
|
April 15, 2025
|
|
semi-annually on April 15 and October 15
|
|
|
1,000,000
|
|
|
|
988,808
|
|
|
|
—
|
|
|
Sirius XM
(b)(d)
|
|
August 2012
|
|
5.25% Senior Secured
Notes (the "5.25%
Notes")
|
|
August 15, 2022
|
|
semi-annually on February 15 and August 15
|
|
|
400,000
|
|
|
|
395,276
|
|
|
|
395,147
|
|
|
Sirius XM
(e)
|
|
December 2012
|
|
Senior Secured
Revolving Credit Facility
(the "Credit Facility")
|
|
December 5, 2017
|
|
variable fee paid quarterly
|
|
|
1,250,000
|
|
|
|
—
|
|
|
|
380,000
|
|
|
Sirius XM
|
|
Various
|
|
Capital leases
|
|
Various
|
|
n/a
|
|
n/a
|
|
|
|
10,907
|
|
|
|
12,754
|
|
|
Total Debt
|
|
|
|
5,109,432
|
|
|
|
4,501,345
|
|
|
Less: total current maturities
|
|
|
|
7,546
|
|
|
|
7,482
|
|
|
Total long-term debt
|
|
|
$
|
5,101,886
|
|
|
$
|
4,493,863
|
|
|
(a)
|
The carrying value of the notes are net of the remaining unamortized original issue discount.
|
|
(b)
|
Substantially all of our domestic wholly-owned subsidiaries have guaranteed these notes.
|
|
(c)
|
In March 2015, Sirius XM issued $1,000,000 aggregate principal amount of 5.375% Senior Notes due 2025, with an original issuance discount of $11,250.
|
|
(d)
|
The liens securing the 5.25% Notes are equal and ratable to the liens granted to secure the Credit Facility.
|
|
(e)
|
In December 2012, Sirius XM entered into a five-year Credit Facility with a syndicate of financial institutions for $1,250,000. Sirius XM's obligations under the Credit Facility are guaranteed by certain of its material domestic subsidiaries and are secured by a lien on substantially all of Sirius XM's assets and the assets of its material domestic subsidiaries. Borrowings under the Credit Facility are used for working capital and other general corporate purposes, including dividends, financing of acquisitions and share repurchases. Interest on borrowings is payable on a monthly basis and accrues at a rate based on LIBOR plus an applicable rate. Sirius XM is also required to pay a variable fee on the average daily unused portion of the Credit Facility which is payable on a quarterly basis. The variable rate for the unused portion of the Credit Facility was 0.30% per annum as of March 31, 2015. As of March 31, 2015, $1,250,000 was available for future borrowing under the Credit Facility. Sirius XM's outstanding borrowings under the Credit Facility are classified as Long-term debt within our unaudited consolidated balance sheets due to the long-term maturity of this debt.
|
|