SIRIUS XM Radio Intends to Offer $550 Million of Senior Notes Due 2015

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NEW YORK, March 12 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq:SIRI - News) intends to offer $550 million of Senior Notes due 2015 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S of the Securities Act.

SIRIUS XM will use the net proceeds from any such offering to redeem all of the Company's 9 5/8% Senior Notes due 2013 and pay fees and expenses of the offering, including premium and accrued and unpaid interest on the notes being redeemed.  The Company intends to use any remaining net proceeds for general corporate purposes.

The securities will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement is neither an offer to sell nor a solicitation to buy any of these securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful. http://www.prnewswire.com/

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