There was a post some time ago that listed all of Sirius XM Bonds with their trading symbols.
I have searched and searched for that post/thread, but cannot find it.
If someone could post that again, I would sure appreciate it.
Thanks
There was a post some time ago that listed all of Sirius XM Bonds with their trading symbols.
I have searched and searched for that post/thread, but cannot find it.
If someone could post that again, I would sure appreciate it.
Thanks
Sirius Bonds are here
http://www.investinginbonds.com/corp...riteria=sirius
XM Bonds are on here
http://www.investinginbonds.com/corp...riteria=xm+sat
Okay, I don't normally share this much info via DD... but I'm feeling generous today. Bookmark this post as it is the only time that I'm going to post it...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
SIRIUS DEBT
2 1/2% Convertible Notes due 2/15/2009 ($187 million outstanding)
SIRI.GD / CUSIP: 82966UAC7
http://cxa.marketwatch.com/finra/Bon...D=ODI5NjZVQUM3
8 3/4% Convertible Subordinated Notes due 9/29/2009 ($1.74 million outstanding)
SIRI.GA / CUSIP: 125127AJ9
http://cxa.marketwatch.com/finra/Bon...D=MTI1MTI3QUo5
3 1/4% Convertible Notes due 10/15/2011 ($230 million outstanding)
SIRI.GE / CUSIP: 82966UAD5
http://cxa.marketwatch.com/finra/Bon...D=ODI5NjZVQUQ1
Senior Secured Term Loan due 12/20/2012 ($247.5 million outstanding)
...BANK LOAN...
9 5/8% Senior Notes due 8/1/2013 ($500 million outstanding)
SIRI.GG / CUSIP: 82966UAK9
http://cxa.marketwatch.com/finra/Bon...D=ODI5NjZVQUs5
TOTAL: $1,166.4 million
++++++++++++++++++++++++++++++++++++++++++++++++++ ++++
XM Debt
Senior Secured Term Loan due 5/5/2009 ($100 million outstanding)
...BANK LOAN...
Senior Secured Revolving Credit Facility due 5/5/2009 ($250 million outstanding)
...BANK LOAN...
10% Convertible Senior Notes due 12/1/2009 ($400 million outstanding)
XMRD.GI / CUSIP: 983759AC5
http://cxa.marketwatch.com/finra/Bon...D=OTgzNzU5QUM1
10% Senior Secured Discount Convertible Notes due 12/31/2009 ($33.2 million outstanding)
...PRIVATELY HELD BY HONDA MOTORS OF AMERICA...
9.75% Senior Notes due 5/1/2014 ($5.26 million outstanding)
XMRD.GL / CUSIP: 98375YAS5
http://cxa.marketwatch.com/finra/Bon...D=OTgzNzVZQVM1
13% Senior Notes due 7/31/2014 ($778.5 million outstanding)
...NEWLY ISSUED, not listed yet on FINRA...
7% Exchangeable Senior Subordinated Notes due 12/1/2014 ($550 million outstanding)
...NEW ISSUED, not listed yet on FINRA...
TOTAL: $2,116.9 million
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I suppose that some will point out the debt differences between the two companies -- Sirius has $1.17 billion and XM has $2.12 billion... you need to keep in mind two important factors...
A) XM was forced to construct and launch two new satellites much earlier than anticipated; these two additional satellites cost XM an additional $600 million (where Sirius did not have this expense).
B) During the restructuring of 2002/3 -- Sirius erased all of their original debt by swapping it out for equity; XM did not, keeping that original $500 million on the books.
So for all practical purposes -- the debt loads for the two could be considered about equivolent from a EV standpoint.
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Homer985...Thanks for the info....
Thanks Homer. Going forward into 2009, Sirius was in a considerably better position than XM. 188M due in all of 2009 and most of it in Febraury. After that, nothing due for another 2 years!??
Geez. If we make it out of 2009 with XM still intact, this company is gonna have 2 years before anything is due. Compared to Sirius, XM was really in a dire position.
Homer,
Thanks
Disagree significantly.
Prior to the merger and prior to Sirius trading significant amounts of more equity for little bits of debt -- XM was in stronger position, IMHO.
-- Sirius had $300 million due in Feb09 that need to be refinanced or bought back;
-- XM had $400 million due in Dec09 that need to be refinanced or bought back;
-- XM had their $350 million in bank loans due in May09 also, but those were bank loans which they had plans to extend the terms of those all along -- so I would not include those.
The difference between Sirius and XM, was that Sirius' had $300 million due in Feb and XM had $400 million due in Dec -- compounded with the fact that XM had more cash on hand at the time... to me, that gave XM the stronger position in the near-term.
But none of this matters anymore, as that is ancient history... what does matter now is figuring out what to do with the Dec09 maturing debt.
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homer:
What happens if Sirius decides to file bankruptcy for their XM subsidary? How would that affect bond holders and what would that do to the company in your opinion?