Sirius XM Holdings, Inc. (SIRI) stock hit a 52-week high today.

Shares are currently selling at $4.00 per share, its highest price in a year. The company announced today that subsidiary Sirius XM Radio Inc. plans on offering $750 million of Senior Notes due 2025.

All proceeds will be used for corporate purposes, including financing for the company in a variety of areas. Any excess cash will be kept on hand, according to the company.

SIRI stock is up 1.01% Tuesday afternoon.

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