NEW YORK, March 3, 2015 /PRNewswire/ -- SiriusXM
announced today that its subsidiary, Sirius XM Radio Inc., intends
to offer $750 million of Senior Notes due 2025 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 company intends to use the net proceeds from the offering
for general corporate purposes, which may include, from time to
time and as market conditions warrant, the repayment, repurchase,
redemption, defeasance or tender of its outstanding indebtedness,
including any borrowings outstanding under its revolving credit
facility, and dividends or loans to SiriusXM, its parent
corporation, to fund share repurchases of SiriusXM common stock.
Pending application of these amounts, the company currently expects
to maintain any excess amount as cash on hand.
The securities have not been and 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.
About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world's largest
radio broadcaster measured by revenue and has 27.3 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. and on
smartphones and other connected devices as well as online at
siriusxm.com. SiriusXM radios and accessories are available from
retailers nationwide and at shop.siriusxm.com. SiriusXM also
provides premium traffic, weather, data and information services
for subscribers in cars, trucks, RVs, boats and aircraft through
SiriusXM Traffic™, SiriusXM Travel Link, NavTraffic®, NavWeather™,
SiriusXM Aviation, SiriusXM Marine™, Sirius
Marine Weather, XMWX Aviation™, and XMWX Marine™.
SiriusXM holds a minority interest in SiriusXM Canada which has
more than 2 million subscribers. SiriusXM is also a leading
provider of connected vehicles services to major automakers, giving
customers access to a suite of safety, security, and convenience
services including automatic crash notification, stolen vehicle
recovery assistance, enhanced roadside assistance and turn-by-turn
navigation.
On social media, join the SiriusXM community on Facebook,
Twitter, Instagram, and YouTube.
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 radio and audio service
providers; our ability to attract and retain subscribers, which is
uncertain; our dependence upon the auto industry; general economic
conditions; changes in consumer protection laws and their
enforcement; the security of the personal information about our
customers; other existing or future government laws and regulations
could harm our business; failure of our satellites would
significantly damage our business; the interruption or failure of
our information technology and communications systems; royalties we
pay for music rights, which increase over time; the unfavorable
outcome of pending or future litigation; our failure to realize
benefits of acquisitions or other strategic initiatives; rapid
technological and industry changes; failure of third parties to
perform; failure to comply with FCC requirements; modifications to
our business plans; our indebtedness; and our principal stockholder
has significant influence over our management and over actions
requiring stockholder approval and its interests may differ from
interests of other holders of our common stock. Additional
factors that could cause our results to differ materially from
those described in the forward-looking statements can be found
in Sirius XM Holdings Inc.'s Annual Report on Form
10-K for the year ended December 31,
2014, 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
Contact Information for Investors and Financial
Media:
Investors:
Hooper Stevens
212 901 6718
hooper.stevens@siriusxm.com
Media:
Patrick Reilly
212 901 6646
patrick.reilly@siriusxm.com
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SOURCE SiriusXM