Sirius XM Radio begins tender offer for 3.25% convertibles due 2011

By Susanna Moon

Chicago, March 24 - Sirius XM Radio Inc. said it began a tender offer to purchase for cash its 3.25% convertible notes due 2011.

The company will pay $1,007.50 for each $1,000 principal amount of notes tendered by midnight ET on April 20, the expiration date.

Holders also will receive accrued interest from the last interest payment date to but not including the payment date.

Tendered notes may be withdrawn at any time by the offer deadline.

Global Bondholder Services Corp. (866 924-2200) is the depositary and information agent. Morgan Stanley & Co. Inc. (800 624-1808 and collect 212 761-8663) is the dealer manager.

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

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