SiriusXM to Retire $753.5 Million of Debt
Redeems Outstanding 8.75% Senior Notes due 2015
NEW YORK, Aug. 1, 2013 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) announced today that, on September 3, 2013, it will redeem all of its outstanding 8.75% Senior Notes due 2015 (CUSIP Nos. 82967NAD0 and U82764AB4). As of August 1, 2013, $753,487,000 of the 8.75% Notes remains outstanding. SiriusXM intends to use the proceeds from the issuance of $600,000,000 aggregate principal amount of its 5.75% Notes due 2021 as well as cash on hand to fund the redemption.
This announcement is neither an offer to sell nor a solicitation to buy any of these securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which an offer, solicitation, or sale would be unlawful.
About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has more than 25 million subscribers. SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.
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SOURCE Sirius XM Radio
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