SiriusXM Canada Closes Offering of C$200 Million 5.625% Senior Unsecured Notes and Issues Notice to Redeem 9.75% Senior Notes

 SiriusXM Canada Closes Offering of C$200 Million 5.625% Senior Unsecured Notes  and Issues Notice to Redeem 9.75% Senior Notes  /NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN  THE UNITED STATES/  TORONTO, April 23, 2014 /CNW/ - Sirius XM Canada Holdings Inc. ("SiriusXM  Canada" or the "Company") (TSX: XSR), parent of Sirius XM Canada Inc., today  announced the closing of its previously announced private placement of 5.625%  Senior Unsecured Notes due 2021 (the "Notes") with an aggregate principal  amount of C$200 million (the "Offering"). The Company will use the net  proceeds of the Offering to fund the redemption of all of the Company's  C$130.8 million outstanding 9.75% senior notes due 2018 (the "Existing Notes")  at a redemption price equal to approximately 107.9622% of the principal amount  of the Existing Notes plus accrued and unpaid interest. A notice to redeem the  Existing Notes has been provided to the indenture trustee with the redemption  to occur on May 23, 2014. The remaining funds will be used for general  corporate purposes, which may include a return of capital to shareholders,  acquisition financing, reinvesting in the business or capital expenditures.  The Company also announced that it has obtained a commitment, subject to  customary closing conditions, for a C$35 million senior secured credit  facility with National Bank Canada and The Toronto-Dominion Bank. The Company  expects to close the senior secured credit facility on or after May 23, 2014  following the redemption of the Existing Notes.  The Company has recently received notices from some of its significant  shareholders relating to the conversion of some of their Class B voting shares  for Class A subordinate voting shares. The Company understands that these  conversion notices were provided in response to the previously disclosed  conversion by Canadian Broadcasting Corporation of all of its Class B voting  shares for Class A subordinate voting shares. To update the market, the  Company highlighted the following approximate voting and equity interest of  its significant shareholders based on the conversion notices provided to the  Company (which is subject to change):  Sirius XM Radio Inc. (Voting: 25.0% and Equity: 37.0%)  Obelysk Media Inc. (Voting: 19.4% and Equity: 12.5%)  Slaight Communications Inc. (Voting: 19.4% and Equity: 12.4%)  Canadian Broadcasting Corporation (Voting: 13.3% and Equity: 14.0%)  This press release does not constitute an offer to sell or the solicitation of  an offer to buy the Notes in any jurisdiction, nor shall there be any sale of  these Notes in any jurisdiction in which such an offer, solicitation or sale  would be unlawful prior to registration and qualification under the securities  laws of any such jurisdiction.  Forward-Looking Statements  Certain statements included above may be forward-looking in nature. Such  statements can be identified by the use of forward-looking terminology such as  "expects," "may," "will," "should," "intend," "plan," or "anticipates" or the  negative thereof or comparable terminology, or by discussions of strategy.  Forward-looking statements include estimates, plans, expectations, opinions,  forecasts, projections, targets, guidance, or other statements that are not  statements of fact, including with respect to the payment of dividends in the  future and future performance. Although SiriusXM Canada believes that the  expectations reflected in such forward-looking statements are reasonable, it  can give no assurance that such expectations will prove to have been correct,  including the use of proceeds of the Offering, the redemption of Existing  Notes, the closing of the senior credit facility and savings in connection  with such Offering and redemption. SiriusXM Canada's forward-looking  statements are expressly qualified in their entirety by this cautionary  statement. SiriusXM Canada makes no commitment to revise or update any  forward-looking statements in order to reflect events or circumstances after  the date any such statement is made, except as required by applicable law.  Additional information identifying risks and uncertainties is contained in  Sirius XM Canada Holdings Inc.'s filings with the Canadian securities  regulators, available at  About SiriusXM Canada  Sirius XM Canada Holdings Inc. (TSX: XSR) operates as SiriusXM Canada.  SiriusXM Canada, with approximately 2.4 million subscribers, is one of the  country's leading audio entertainment company and broadcasts more than 120  satellite radio channels featuring premier sports, news, talk, entertainment  and commercial-free music. SiriusXM Canada offers an array of content from the  most recognized news and entertainment brands as well as every major sport  including the NHL, NFL and MLB.  SiriusXM programming is available on a variety of devices including  pre-installed and after-market radios in cars, trucks and boats, smartphones  and mobile devices, and consumer electronics products for homes and offices.  SiriusXM programming is also available online at and on Apple  and Android-powered mobile devices.  SiriusXM Canada has partnerships with every major automaker and its radio  products are available at more than 3,000 retail locations nationwide. To find  out more about SiriusXM Canada (TSX: XSR), visit our website at    SOURCE  SiriusXM Canada  Morlan Reddock SiriusXM Canada 416-513-7418  Dave Mason TMX Equicom 416-815-0700 ext 237  To view this news release in HTML formatting, please use the following URL:  CO: SiriusXM Canada ST: Ontario NI: MUSIC RADIO NEWSTK  
Press spacebar to pause and continue. Press esc to stop.