Exhibit 99.1
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Sirius XM Radio Inc. Intends To Offer $750 Million Of
Senior Notes due 2024
NEW YORK—June 18, 2019—SiriusXM announced today that its subsidiary, Sirius XM Radio Inc., intends to offer, subject to market conditions, $750 million of Senior Notes due 2024 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, andnon-U.S. persons outside the United States in compliance with Regulation S of the Securities Act.
The company intends to use the net proceeds from this offering, together with cash on hand, to redeem a portion of its 6.00% Senior Notes due 2024 at a purchase price of 103.00% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding, the redemption date.
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 of an offer 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. This announcement does not constitute a notice of redemption of the 6.00% Senior Notes due 2024.
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About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world’s largest audio entertainment company, and the premier programmer and platform for subscription- and advertising-supported audio products. With the recent addition of Pandora, the largest streaming music provider in the U.S., SiriusXM reaches more than 100 million people with its audio products.
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 the intended use of proceeds of the anticipated notes offering. 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 and the timing of events may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our substantial competition, which is likely to increase over time; our ability to attract