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Thread: Sirius bond prices

  1. #1
    LIBOR/TED SPREAD is offline
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    Sirius bond prices

    CUSIP MATURITY TRADE DATE PRICE YIELD
    82966UAC7 2.500 02/15/2009 12/19/2008 80.000 177.606
    82966UAD5 3.250 10/15/2011 12/17/2008 15.00 92%
    82966UAK9 9.625 08/01/2013 12/19/2008 14 88%
    983759AC5 10% 12/01/2009 12/19/2008 37.375


    Anyone know where we can find ALL sirixm bonds,cusip #'s, and last trade data?

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  3. #3
    Siriusowner is offline
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    Quote Originally Posted by jmm232 View Post
    I never bothered to check the SIRIUS bond prices before. Don't you think the FEB 09 are expensive @ $80 ? Afterall, they are junk bonds.

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    Demian is offline
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    Quote Originally Posted by Siriusowner View Post
    I never bothered to check the SIRIUS bond prices before. Don't you think the FEB 09 are expensive @ $80 ? Afterall, they are junk bonds.
    One man's junk can be another man's treasure......

  5. #5
    jmm232 is offline
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    The Feb09 bond prices have been a matter of some talk on Yahoo Finance. I do not understand their full significance. All I do know is that they are not priced as if they wil not be paid off. Not priced for BK. I do wonder how the yield plays into everything. To me that implies the payoff for holding the bond is greater, but I do not understand corporate bonds.

    In Treasuries, the bond price and yield usually move in opposite directions. I would think the rise in yield could be that they are viewed as higher risk, though the price does not imply that.

    Maybe someone else could chime in.

  6. #6
    LIBOR/TED SPREAD is offline
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    176% yield

    I believe is the annualized return if you bought the FEB 09's at 80 on 12/19, can anyone confirm this? Obviously SIRI will not default on the 2/09 $210M as they can pay off in cash if forced to. As Tyler exlained SIRI can not buy back stock in the open mkt, the big question CAN they buy back BONDS in open mkt i.e. at 80 vs waiting until FEB where the must pay PAR 100 (or HOPEFULLY trade debt for equity at $.25 share).

    FEB 09's buy for 80 sell 2 month for 100 is to good to be true????? What am I missing?

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