Sirius to redeem all 15% notes, 14½% notes with $250 million note offering proceeds

By Caroline Salls

Pittsburgh, March 22 - Sirius Satellite Radio Inc. said it will redeem all of its outstanding 15% senior secured discount notes due 2007 and 14½% senior secured notes due 2009 using the proceeds from its $250 million offering of senior notes due 2015.

The balance of the proceeds will be used to pay the expenses of the offering and for general corporate purposes.

Sirius is a New York-based satellite radio provider.

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