TORONTO, Jan. 15, 2014 /CNW/ - Sirius XM Canada Holdings Inc. ("SiriusXM Canada") (TSX: XSR), parent of Sirius XM Canada Inc., today announced that it will redeem its 8.0% convertible unsecured subordinated debentures scheduled to mature on September 12, 2014 (the "Debentures") on February 18, 2014 (the "Redemption Date"). On the Redemption Date, SiriusXM Canada will pay to the holders of redeemed Debentures a redemption price equal to the principal amount of the Debentures, plus accrued and unpaid interest up to but excluding the Redemption Date, for a total of $1010.74 per $1,000 principal amount of Debentures. The aggregate principal amount of Debentures currently outstanding is $20,000,000.
Formal notice of redemption is being delivered to the registered holder of the Debentures in accordance with the terms of the Trust Indenture.
Holders of Debentures are advised that they may continue to exercise their conversion rights in respect of the outstanding Debentures, subject to the terms and subject to the conditions of the Trust Indenture.
Certain statements included above may be forward-looking in nature. Such statements can be identified by the use of forward-looking terminology such as "expects," "may," "will," "should," "intend," "plan," or "anticipates" or the negative thereof or comparable terminology, or by discussions of strategy. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. Although SiriusXM Canada believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. SiriusXM Canada's forward- looking statements are expressly qualified in their entirety by this cautionary statement. SiriusXM Canada makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in Sirius XM Canada Holdings Inc.'s filings with the Canadian securities regulators, available at www.sedar.com.
About SiriusXM Canada
Sirius XM Canada Holdings Inc. (TSX: XSR) operates as SiriusXM Canada. SiriusXM Canada, with over 2.4 million subscribers, is the country's leading audio entertainment company and broadcasts more than 120 satellite radio channels featuring premier sports, news, talk, entertainment and commercial-free music. SiriusXM Canada offers an array of content from the most recognized news and entertainment brands as well as every major sport including the NHL, NFL, MLB, NBA, NASCAR and Barclays Premier League, UEFA and MLS Soccer.
SiriusXM programming is available on a variety of devices including pre-installed and after-market radios in cars, trucks and boats, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available online at www.siriusxm.ca and on Apple and Android-powered mobile devices.
SiriusXM Canada has partnerships with every major automaker and its radio products are available at more than 3,000 retail locations nationwide. To find out more about SiriusXM Canada (TSX: XSR), visit our website at www.siriusxm.ca.
SOURCE: Sirius XM Canada Holdings Inc.
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