yeah, great call on the timing.
More $ for Malone's bait $ buy backs. Look how it worked out for the share holders with all of the buying back of shares over the last year. SP is basically the same as a year ago but Malone pulled out $500,000,000.:puke:
Hope we get the positive reaction now.....750 mn clears out those 7% converts....would be nice to get those off the books.
EDIT: Funny how we just happened to have a huge white candle the day before the offering goes public......or is it
POS stock and market....someone/MMs new what was up...another move up will confirm that. If not then we get SXMI's dead cat shoved up our collective A$$s.
Looks like SIRI drew down $420M from the revolver after Q1 to finance the $340M Liberty buyback and plus $80M of other buybacks. I believe at the end of Q1, the outstanding balance on the revolver was around $310M...
Rating Action: Moody's assigns B1 to Sirius' proposed senior unsecured notes; Ba3 CFR affirmed
Global Credit Research - 01 May 2014
$750 million of new debt rated
New York, May 01, 2014 -- Moody's Investors Service ("Moody's") assigned B1 to Sirius XM Radio Inc.'s ("Sirius") proposed $750 million senior unsecured notes. Most of the net proceeds from the new notes are expected to repay $730 million of outstandings under the company's $1.25 billion senior secured revolving credit facility (unrated). In addition, Moody's affirmed the company's Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating as well as all existing instrument ratings. The B1 rating on the proposed and existing senior unsecured notes reflects their effective subordination to the unrated secured revolver and the 5.25% senior secured notes. The rating outlook is stable.
Damn......sometimes you just get lucky.....WOW
Sirius XM Radio Inc. Prices Offering Of $1.5 Billion Of 6.00% Senior Notes due 2024
Looks like they're not Fng around...