SiriusXM Canada to redeem 9¾% notes with proceeds of new 5 5/8% notes

By Angela McDaniels

Tacoma, Wash., April 17 - SiriusXM Canada Holdings Inc. plans to redeem all of its C$130.8 million outstanding 9¾% senior notes due 2018, according to a company news release.

The company will use the proceeds from its C$200 million issue of 5 5/8% senior notes (/BB-/) due 2021, which priced April 17.

Proceeds will also be used for general corporate purposes, which may include a return of capital to shareholders, acquisition financing, reinvesting in the business or capital expenditures.

Toronto-based SiriusXM Canada Holdings is the parent company of SiriusXM Canada Inc., a satellite radio company.

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