Satellite Company "kick in" ?? Newman, Demian?

I have looked and looked in the posts but cannot find the referance to the amonut of money and the criteria - wasn't there some money that was "available" to sirius via the Sat companies IF a certain criteria was met?

I think it was one of you guy's that brought that info to the group. Just wondering what that was about and if it might be called on to use to put the co in a better position? (share buy back, use to offset the amount of debt that was not addreesed by Liberty) - Frankly, i cannot remember the details. Ah - the joys of aging!!!:confused:

I think you are referring to the 250 million line of credit Sirius had with Loral Space. They had to have a market cap over 1 billion to draw on it, but I'm pretty sure it expired in December.

There is also the credit line with GM, but homer has mentioned that this was eliminated as of the merger.

Is this what you were asking about?

Quote:

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Originally Posted by Newman

I think you are referring to the 250 million line of credit Sirius had with Loral Space. They had to have a market cap over 1 billion to draw on it, but I'm pretty sure it expired in December.

There is also the credit line with GM, but homer has mentioned that this was eliminated as of the merger.

Is this what you were asking about?

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Thats it - so still no good to us!

just a thought!
Thanks Newman!!