Sirius XM calls for April 16 redemption of all 9 5/8% senior notes

By Jennifer Chiou

New York, March 17 - Sirius XM Radio Inc. announced the April 16 redemption of all $500 million of its 9 5/8% senior notes due 2013.

The notes will be redeemed at a price of 104.813 plus accrued interest.

The company said it will use the net proceeds from its closed sale of $800 million of 8¾% senior notes due 2015.

When plans for the redemption were announced on March 12, Sirius anticipated using proceeds from a $550 million notes offering.

Sirius XM Radio is a satellite radio provider based in New York.

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