Sirius XM Prices Offerings Of $500 Million Of 4.25% Senior Notes Due 2020 And $500 Million of 4.625% Senior Notes Due 2023

Sirius XM Prices Offerings Of $500 Million Of 4.25% Senior Notes Due 2020 And
                 $500 Million of 4.625% Senior Notes Due 2023

PR Newswire

NEW YORK, May 2, 2013

NEW YORK, May 2, 2013 /PRNewswire/ --Sirius XM Radio (NASDAQ: SIRI) today
priced offerings of $500 million of Senior Notes due 2020 and $500 million of
Senior Notes due 2023.


The notes were offered 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. The Senior Notes due 2020
will bear interest at an annual rate of 4.25% and the Senior Notes due 2023
will bear interest at an annual rate of 4.625%. The price to investors will be
100% of the principal amount of the notes. The company will receive gross
proceeds of $1 billion from the sale of the notes before deducting the initial
purchasers' commissions and estimated offering fees and expenses.

SiriusXM intends to use the proceeds of the offerings of the new Senior Notes
for general corporate purposes, which may include, from time to time and as
market conditions warrant, share repurchases and the repurchase, redemption,
defeasance, tender or repayment of its outstanding indebtedness.
Specifically, the company intends to repay all outstanding drawings of $150
million under its revolving credit facility with a portion of the proceeds
from the offerings. Pending application of these amounts as provided above,
the company currently expects to maintain any excess amount as cash on hand.

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

About Sirius XM Radio

Sirius XM Radio Inc. is the world's largest radio broadcaster measured by
revenue and has 24.4 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 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.

On social media, join the SiriusXM community on Facebook,, Twitter,, Instagram,, and YouTube at

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
radio and audio services; 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; rapid technological and industry change; failure of third parties
to perform; changes in consumer protection laws and their enforcement; 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, 2012, which is filed with the Securities
and Exchange Commission (the "SEC") and available at the SEC's Internet site
( 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.


SOURCE Sirius XM Radio

Contact: Investors: Hooper Stevens, 212 901 6718,;
or Media:Patrick Reilly, 212 901 6646,
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