SiriusXM to Retire $186 Million of Debt Early
SiriusXM announced Thursday that on September 1st it will redeem all of its outstanding 9.75% Senior Secured Notes due in 2015. CFO David Frear said, "Our strong cash position and growing free cash flow profile have put us in a position to retire these notes three years ahead of their maturity, at the first available redemption date. The early retirement of these notes will reduce interest expense and eliminate the only remaining piece of secured debt on our balance sheet."
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