XM calls 8.25% convertible preferreds

New York, May 26 - XM Satellite Radio Holdings Inc. said it has issued a notice to redeem its 8.25% series B convertible redeemable preferred stock due 2012.

The redemption will take place on June 26.

XM currently has 107,985 shares of the $50 liquidation preference preferreds outstanding for a total of $5.39 million.

The preferreds can be converted into XM stock at a price of $40 per share. The company's stock closed at $14.31 on Friday.

XM is a Washington, D.C.-based satellite radio broadcaster.

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