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Thread: Feb. 15th bond debt due - 30 day extension?

  1. #1
    Demian is offline
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    Joined: Oct 2008 Posts: 2,320

    Feb. 15th bond debt due - 30 day extension?

    I have heard talk around the net about a 30 day extension option on the Feb. 15th bond debt. I have yet to verify that this is true. If it is true, I am curious about the reasons, ramifications, and possibility of them using this....

    Homer?

    Anyone?
    Last edited by Demian; 02-02-2009 at 11:13 AM.

  2. #2
    trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    i dont think it would be good for the stock price, it would send a sign that siri is having dificulties, pay it, and pay it on time. Some say it will add more cash to bottom line waiting but i think more hardm than good would come of it.

  3. #3
    homer985 is offline
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    Joined: Mar 2008 Posts: 485
    I don't see anything in the indenture about it, but that doesn't mean that it doesn't exist... I may be missing it, or it just may be standard. I think though that if they do not repay on that date, that they will be in default -- though still given 30 days to repay it.

    Regardless, I think it is a moot point. I believe that they have the means to repay/refinance this remaining amount.


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