XM SATELLITE RADIO
CLOSES $175 MILLION DEBT OFFERING
Washington D.C., June 17, 2003 --XM
Satellite Radio Holdings Inc. (NASDAQ: XMSR) announced today that its
subsidiary, XM Satellite Radio Inc., completed a $175 million debt
offering, consisting of 12% Senior Secured Notes due 2010. In addition,
XM granted the initial purchaser an option to purchase up to an
additional $25 million of notes to cover over-allotments.
The notes were offered by the initial purchaser solely to certain
qualified institutional buyers pursuant to Rule 144A, were not
registered under the Securities Act of 1933 and may not be offered or
sold in the United States absent registration or an applicable exemption
from registration under the Securities Act and applicable state
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these notes.