Sirius XM calls remaining 10% senior PIK notes for June 1 redemption

By Jennifer Chiou

New York, April 28 - Sirius XM Radio Inc. announced the June 1 redemption of all $113,685,000 of its 10% senior pay-in-kind secured notes due 2011.

The notes will be redeemed at par plus accrued interest.

"Our strong cash position, strong first quarter subscriber growth and the improving outlook for the economy have put us in position to retire these notes a year ahead of schedule," David Frear, executive vice president and chief financial officer, said in a company news release.

Sirius XM Radio is a satellite radio provider based in New York.

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