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Sirius XM Radio Intends To Offer $500 Million Of Senior Notes Due 2020

    Sirius XM Radio Intends To Offer $500 Million Of Senior Notes Due 2020

PR Newswire

NEW YORK, May 2, 2013

NEW YORK, May 2, 2013 /PRNewswire/ -- Sirius XM Radio(NASDAQ: SIRI) intends
to offer$500 millionof Senior Notes due 2020 to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and
outsidethe United Statesin compliance with Regulation S of the Securities
Act.

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

SiriusXM intends to use the net proceeds from any such offering 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 our outstanding indebtedness, including any
borrowings outstanding under our revolving credit facility. Pending
application of these amounts as provided above, we currently expect 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 inthe 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.

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.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.

On social media, join the SiriusXM community on Facebook,
facebook.com/siriusxm, Twitter, twitter.com/siriusxm, Instagram,
instagram.com/siriusxm, and YouTube at youtube.com/siriusxm.

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 (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.

E-SIRI

SOURCE Sirius XM Radio

Website: http://www.siriusxm.com
 
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