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Thread: Biggest question we need answer too!!

  1. #1
    LIBOR/TED SPREAD is offline
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    Joined: Dec 2008 Posts: 65

    Biggest question we need answer too!!

    What is MIN $$$$ we must have in bank?????????

    This is the most important question that must be answered if no cash infusion happends within next 24 hrs!!!!!!!! Homer beleives it was $180M however he later found out XM must keep $75M on hand at all times we have yet to find the $$$$ amount if any for SIRI. Let's quit guessing on things we don't know and atually look thru info we do have and find this $$$ amount. If $75M is all we must have then we can write Ergin a $175M check tomorrow with the help of NO ONE!!!!!!!!!! Let's again stop specualting and start reserching the public infomration for the answer!!!!!

    START READING ON THE Q's K's & 10 ABC'c get your reading glasses on and lets get started now!!!!!!

    Homer, we really need you here!!!
    Last edited by LIBOR/TED SPREAD; 02-16-2009 at 01:41 PM.

  2. #2
    frigginregan is offline
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    Joined: Aug 2008 Posts: 83
    Dude, don't even bother stressing over this question. We'll find out in a few short hours what the dealio is.

    Relax. Take a walk. Make love to the wifey. Enjoy the sun.

    Ok...who am I kidding, I'm chilling around the computer too. Took the girlfriend out last night. Today is for me. Kinda like the Super Bowl for Sirius shareholders. I'm not asking any questions though. I'm just chilling. We've waited this long...I'm gonna enjoy these last few hours without stress or asking questions that will be answered soon enough.

    Good luck all.

    No matter what happens, it's been real.

    Peace out.

  3. #3
    homer985 is offline
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    Joined: Mar 2008 Posts: 485
    I'll admit, that the $180MM figure was thrown at me by a poster on Yahoo who was very factual in the explanation of how/why they needed that much. I considered the source and the facts presented -- and found it somewhat credible sounding... but it could be wrong.

    I've since gone back trying to find the post, but cannot.

    All I'm sure about is the XM convenant needing $75 million (which can be lowered to $50MM -- but I'm not sure if that ability transfered in the merger or not).

    I believe the posters other minimum balance amounts (of over $100MM) were tied to Sirius covenants. So I think you should be looking at Sirius filings as your starting point.



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  4. #4
    cos1000 is offline
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    Joined: Mar 2008 Posts: 402
    I have looked through the Sirius filings under their covenants carried forward to the 3Q, 2008, and the only dollar figure they have listed is the XM $75M....... for COH. There are other restricted investments, but they are for escrow to the MLB for $120M and that is XM's, now Sirius XM's. I believe the relief to $50M on the $75 for the XM Revolving Credit facilities was premerger, and was full funded back to $75M at merger. Any desire to lower back, needs to be approved by the banks involved in the facility before hand or else XM would be in default of their agreement.

  5. Ad Fairy Senior Member

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