Yes, XM canceled the exchange offer and is just amending the current indenture agreement instead.
My guess is that XM had 94% of the holders to already agree to the new terms, but they hadn't...
SIRIUS XM SATELLITE RADIO FORUM
Type: Posts; User: homer985
Yes, XM canceled the exchange offer and is just amending the current indenture agreement instead.
My guess is that XM had 94% of the holders to already agree to the new terms, but they hadn't...
FWIW, I keep seeing the term "refinance" tossed around with this recent move too often. Let's make this clear -- this is NOT a refinance.
When you refinance bonds, you issue new Notes - that have...