SiriusXM said on Sept. 1 the company will redeem all of its outstanding 9.75% senior secured notes.

Those were due in 2015.

In all, SiriusXM will retire some $186 million in million in debt.

The satcaster had $2.63 billion in outstanding debt as of March 31.

CFO David Frear said the company’s strong cash position and growing free cash flow profile have put the satellite radio company in a position to retire the 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.”