Results 1 to 10 of 10

Thread: Why only 6 million of debt exchanged ?

Hybrid View

  1. #1
    sxminvestor is offline

    Why only 6 million of debt exchanged ?

    I'm wondering why they are doing this in such snmall dribs and drabs. Anybody ?

  2. #2
    Sworntwofun is offline
    Addict
    Sworntwofun's Avatar
    Joined: Dec 2008 Posts: 588

    Why only 6 million of debt exchanged ?

    Whats is the Difference on the amount of Debt exchange..Its still shaping up and indicating interest in the company...They are almost half way there..This has go to be a good thing.....

  3. #3
    sxminvestor is offline
    Quote Originally Posted by Sworntwofun View Post
    Whats is the Difference on the amount of Debt exchange..Its still shaping up and indicating interest in the company...They are almost half way there..This has go to be a good thing.....

    Just that Feb coming soon and they would have to sell about 30 blocks of 6M to get rid of balance. I'd like to see this under 100M, so that an option would be cash on hand to take out balance.

    Then worry about refi of the May.

  4. #4
    Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    Quote Originally Posted by sxminvestor View Post
    Just that Feb coming soon and they would have to sell about 30 blocks of 6M to get rid of balance. I'd like to see this under 100M, so that an option would be cash on hand to take out balance.

    Then worry about refi of the May.
    It doesn't have to be under 100M for them to pay off the Feb. debt with cash...

  5. #5
    homer985 is offline
    Senior Member
    homer985's Avatar
    Joined: Mar 2008 Posts: 485
    Quote Originally Posted by sxminvestor View Post
    Then worry about refi of the May.
    Keep in mind that the May expirations don't have to be "refinanced"...

  6. #6
    sxminvestor is offline
    Quote Originally Posted by homer985 View Post
    Keep in mind that the May expirations don't have to be "refinanced"...
    What do you ,ean by this, they do have to be extended or replaced, no ?

  7. #7
    Newman is offline
    Mentor
    Newman's Avatar
    Joined: Jun 2007 Location: Dallas Texas Posts: 1,162
    I don't think most people see an extension as refinancing.

  8. #8
    SteveSirius is offline
    Enthusiast
    SteveSirius's Avatar
    Joined: Jul 2008 Posts: 136
    I have no information, but only thoughts:

    The existing lender seems to be buying these shares, so perhaps it is they who are deciding how much they want to buy. Perhaps Sirius XM is trying to lessen the effect of share dilution by floating shares in relatively small amounts.

    I find it is interesting that the last couple of these relatively small stock issuances have each been at a price above the current trading price. Perhaps there is some legal reason for this.

    I also find it interesting that the current lender would be interested in obtaining stock instead of cash that is owed to them. Perhaps these are agreed upon actions as part of a deal for future financing?

  9. Ad Fairy Senior Member

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •