Latham Advises on Sirius XM Radio LLC’s US$1.25 Billion Senior Notes Offering

Sirius XM Holdings Inc. (NASDAQ: SIRI) (SiriusXM) announced that its subsidiary, Sirius XM Radio LLC, priced an offering of US$1,250,000,000 of 5.875% Senior Notes due 2032. This represents an increase of US$250,000,000 in aggregate principal amount in the offering size of the notes. The sale of the notes is expected to be consummated on or about March 4, 2026, subject to customary closing conditions. The notes are to be sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and non-US persons outside the United States in compliance with Regulation S of the Securities Act. The issuer will receive gross proceeds of approximately US$1,250,000,000 from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.

Latham & Watkins LLP represents the initial purchasers in the offering with a Capital Markets team led by partners Marc Jaffe, Jason Licht, and Chuck Cassidy, with associates Adam Weber, Ana Carolina Andrade, and David Reed. Advice was also provided on FCC matters by partner Jim Barker; on tax matters by partner Bora Bozkurt, with associates Michael Yu and Alice Chen; and on data privacy and cybersecurity matters by partner Robert Blamires, with associate Kathryn Parsons-Reponte.