Sirius XM Announces $1.25 Billion Revolving Credit Facility

         Sirius XM Announces $1.25 Billion Revolving Credit Facility

PR Newswire

NEW YORK, Dec. 5, 2012

NEW YORK, Dec. 5, 2012 /PRNewswire/ --Sirius XM Radio Inc. (NASDAQ: SIRI)
today announced that it has entered into anew $1.25 billion five-year senior
secured revolvingcredit facility with a syndicate of banks and other
financial institutions.The new facility is secured by substantially all the
assets of the company and its subsidiaries and was not drawn upon at closing.
The company will use borrowings under its facility for working capital and
other general corporate purposes, including without limitation, share
repurchases, dividends and the financing of acquisitions.

(Logo: http://photos.prnewswire.com/prnh/20101014/NY82093LOGO )

J.P. Morgan Bank, N.A. acted as Administrative Agent. J.P. Morgan Securities
LLC acted as a Joint Bookrunner along with Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Citigroup Global Markets Inc., Deutsche Bank Securities
Inc., Morgan Stanley MUFG Loan Partners, LLC, Barclays Bank PLC, BNP Paribas
Securities Corp., Credit Agricole Corporate and Investment Bank, RBC Capital
Markets, RBS Securities Inc., SunTrust Robinson Humphrey, Inc., and Wells
Fargo Securities LLC.

"SiriusXM's credit quality has rapidly improved and we are pleased that the
bank market has recognized that fact by oversubscribing the deal, allowing us
to upsize the facility to $1.25 billion. This new facility will allow us to
continue to drive down average borrowing costs and more tightly manage cash
and debt balances and it further strengthens our balance sheet by providing a
substantial and readily available source of liquidity for strategic
opportunities, including the return of capital to shareholders and
acquisitions," noted David Frear, Chief Financial Officer,
SiriusXM.

About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by
revenue and has 23.4 million subscribers. SiriusXM creates and broadcasts
commercial-free music; premier sports talk and live events; comedy; news;
exclusive talk and entertainment; and the most comprehensive Latin music,
sports and talk programming in radio. SiriusXM is available in vehicles from
every major car company in the U.S., from retailers nationwide, and online at
siriusxm.com. SiriusXM programming is also available through the SiriusXM
Internet Radio App for Android, Apple, and BlackBerry smartphones and other
connected devices. SiriusXM also holds a minority interest in SiriusXM Canada
which has more than 2 million subscribers.

This communication contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about future financial and
operating results, our plans, objectives, expectations and intentions with
respect to future operations, products and services; and other statements
identified by words such as "will likely result," "are expected to," "will
continue," "is anticipated," "estimated," "believe," "intend," "plan,"
"projection," "outlook" or words of similar meaning. Such forward-looking
statements are based upon the current beliefs and expectations of our
management and are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are difficult to
predict and generally beyond our control. Actual results may differ
materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ
materially from the anticipated results or other expectations expressed in the
forward-looking statements: our competitive position versus other forms of
audio entertainment; our dependence upon automakers; general economic
conditions; failure of our satellites, which, in most cases, are not insured;
our ability to attract and retain subscribers at a profitable level; royalties
we pay for music rights; the unfavorable outcome of pending or future
litigation; failure of third parties to perform; and our substantial
indebtedness. Additional factors that could cause our results to differ
materially from those described in the forward-looking statements can be found
in our Annual Report on Form 10-K for the year ended December 31, 2011, which
is filed with the Securities and Exchange Commission (the "SEC") and available
at the SEC's Internet site (http://www.sec.gov). The information set forth
herein speaks only as of the date hereof, and we disclaim any intention or
obligation to update any forward looking statements as a result of
developments occurring after the date of this communication.

Follow SiriusXM on Twitter orlike the SiriusXM page on Facebook.

E - SIRI

SOURCE Sirius XM Radio

Website: http://www.siriusxm.com
Contact: Investors: Hooper Stevens, +1-212-901-6718,
hooper.stevens@siriusxm.com; Media: Patrick Reilly, +1-212-901-6646,
patrick.reilly@siriusxm.com
 
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