XM Radio 2010 Annual Report Download - page 115

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(11) Debt
Our debt consists of the following:
Conversion
Price
(per Share)
December 31,
2010
December 31,
2009
3.25% Convertible Notes due 2011(a) .............. $ 5.30 $ 191,979 $ 230,000
Less: discount ............................ (515) (1,371)
Senior Secured Term Loan due 2012(b)............. N/A — 244,375
9.625% Senior Notes due 2013(c) ................. N/A — 500,000
Less: discount ............................ — (3,341)
8.75% Senior Notes due 2015(d) .................. N/A 800,000 —
Less: discount ............................ (12,213) —
9.75% Senior Secured Notes due 2015(e) ........... N/A 257,000 257,000
Less: discount ............................ (10,116) (11,695)
10% Senior PIK Secured Notes due 2011(f) ......... N/A — 113,685
Less: discount ............................ — (7,325)
11.25% Senior Secured Notes due 2013(g) .......... N/A 36,685 525,750
Less: discount ............................ (1,705) (32,259)
13% Senior Notes due 2013(h) ................... N/A 778,500 778,500
Less: discount ............................ (59,592) (76,601)
9.75% Senior Notes due 2014(i) .................. N/A — 5,260
7% Exchangeable Senior Subordinated Notes due
2014(j) ................................... $1.875 550,000 550,000
Less: discount ............................ (7,620) (9,119)
7.625% Senior Notes due 2018(k) ................. N/A 700,000 —
Less: discount ............................ (12,054) —
Other debt:
Capital leases ................................ N/A 7,229 14,304
Total debt .................................... 3,217,578 3,077,163
Less: total current maturities non-related party ...... 195,815 13,882
Total long-term ................................ 3,021,763 3,063,281
Less: related party........................... 325,907 263,579
Total long-term, excluding related party .............. $2,695,856 $2,799,702
(a) 3.25% Convertible Notes due 2011
In October 2004, we issued $230,000 in aggregate principal amount of 3.25% Convertible Notes due
October 15, 2011 (the “3.25% Notes”), which are convertible, at the option of the holder, into shares of our
common stock at any time at a conversion rate of 188.6792 shares of common stock for each $1,000 principal
amount, or $5.30 per share of common stock, subject to certain adjustments. Interest is payable semi-annually on
April 15 and October 15 of each year. The obligations under the 3.25% Notes are not secured by any of our assets. In
December 2010, we purchased $38,021 of the outstanding 3.25% Notes at a price of 100.25% of the principal
amount plus accrued interest. We recorded an aggregate loss on extinguishment of the 3.25% Notes of $209,
F-27
SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)