March 18, 2010 (FinancialWire) — Sirius XM Radio (NASDAQ: SIRI) SAID it has closed the sale of $800 million of its 8.75% senior notes due 2015. The notes were priced without a new issuance discount.

The company plans to use the net proceeds from the offering to redeem on April 16 all of its outstanding $500 million of 9-5/8% senior notes due 2013, at a redemption price of 104.813% plus accrued interest.

Sirius said that the balance of the net proceeds from the offering will be used to repay the $244 million outstanding under the company’s senior secured term loan due 2012, to pay fees and expenses of the offering and for general corporate purposes.

New York-based Sirius XM Radio is America’s satellite radio company offering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.

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