SiriusXM to redeem 3 7/8% senior notes due 2022 with proceeds of new notes

By Rebecca Melvin

New York, June 7 – SiriusXM Radio Inc., a subsidiary of Sirius XM Holdings Inc., plans to use the proceeds from a new offering of notes to redeem all of its outstanding 3 7/8% senior notes due 2022, according to a company release.

Beginning Aug. 1, the company may redeem the 3 7/8% notes at a redemption price of par plus accrued and unpaid interest thereon to, but excluding, the redemption date.

Pending application of the proceeds to redeem notes, the company will use the proceeds to repay borrowings outstanding under its senior secured credit facility.

The radio broadcaster is based in New York.

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