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Thread: SIRI Daily Thread Monday 07-29-2013

  1. #1
    denco1 is offline
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    SIRI Daily Thread Monday 07-29-2013

    Good morning SIRILOVERS!

    SIRI continuing to make the right moves. Cleaning up the balance sheet with the new notes due 2021 to redeem the 8.75% notes due 2015 is just another smart move by management. SIRI is on a ROLL in many ways....glta

    http://finance.yahoo.com/news/sirius...125500796.html
    Last edited by denco1; 07-29-2013 at 10:01 AM.

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    Limit5Bass is offline
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    Good morning Denco! and other SIRI lovers! nice move before interest rates start rising too high
    Quote Originally Posted by denco1 View Post
    Good morning SIRILOVERS!

    SIRI continuing to make the right moves. Cleaning up the balance sheet with the new notes due 2021 to redeem the 8.75% notes due 2015 is just another smart move by management. SIRI is on a ROLL in many ways....glta

  3. #3
    denco1 is offline
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    Quote Originally Posted by Limit5Bass View Post
    Good morning Denco! and other SIRI lovers! nice move before interest rates start rising too high
    Morning Bass!....no doubt, reducing the notes by 3 ish points and pushing it out is a BIG positive. That FCF can now be used for more short term goals such as BUYBACKS!

  4. #4
    Wolf Child is offline
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    Somebody needs to find SM's address so we can wait for him outside....

    ...with Louisvilles and knuckle dusters.

  5. #5
    Redcloud is offline
    Great to see ya Wolf. Hope you've been killin it.
    Suck Eggs Shorty!!!

  6. #6
    Wolf Child is offline
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    Thanks RC

    @ 5 year highs we're all killing it!


    Here's my first trade in SIRI

    02/19/2009 23,568(shares) $0.13(Cost) $84,833.68(Gain) +2,758.85% $87,908.64(value today)

    That's just the tip
    Last edited by Wolf Child; 07-29-2013 at 11:52 AM.

  7. #7
    denco1 is offline
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    Quote Originally Posted by Wolf Child View Post
    Thanks RC

    @ 5 year highs we're all killing it!


    Here's my first trade in SIRI

    02/19/2009 23,568(shares) $0.13(Cost) $84,833.68(Gain) +2,758.85% $87,908.64(value today)

    That's just the tip
    What's up Wolf!......glad to see you over here too.........nice gain

  8. #8
    denco1 is offline
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    Quote Originally Posted by Wolf Child View Post
    Somebody needs to find SM's address so we can wait for him outside....

    ...with Louisvilles and knuckle dusters.
    SMs starting to get his confidence back a bit..........needs to be taught a little lesson soon........

  9. #9
    Wolf Child is offline
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    Another price target increase by Barrington from 3.75 to 4.25


    EDIT:

    And S&P rates the $600m Sr Notes at "BB"

    Is that any better or worse of a rating than previous notes?

    And are we still trying to avoid being "Investment Grade"
    Last edited by Wolf Child; 07-29-2013 at 12:53 PM.

  10. #10
    denco1 is offline
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    NEW YORK (Standard & Poor's) May 3, 2013--Standard & Poor's Ratings Services
    today assigned New York City-based satellite radio company Sirius XM Radio
    Inc.'s issuance of $500 million 4.625% senior notes due 2023 an issue-level
    rating of 'BB', with a recovery rating of '3'. The '3' recovery rating
    indicates our expectation of meaningful (50% to 70%) recovery in the event of
    a payment default. Sirius plans to use the net proceeds for general corporate
    purposes, which includes share repurchases and, over time, the potential
    repayment of higher coupon debt. Cash balances were roughly $1 billion at
    March 31, 2013, pro forma for the $150 million repayment of revolving credit
    facility borrowings.
    NEW YORK (Standard & Poor's) July 29, 2013--Standard & Poor's Ratings Services
    today assigned New York City-based satellite radio company Sirius XM Radio
    Inc.'s proposed issuance of $600 million senior notes due 2021 an issue-level
    rating of 'BB', with a recovery rating of '3'. The '3' recovery rating
    indicates our expectation of meaningful (50% to 70%) recovery in the event of
    a payment default. Sirius plans to use the net proceeds, together with some of
    its existing cash, to redeem $753 million 8.75% senior notes due 2015.
    Looks like they were rated the same.

    Maybe they will change there position on the "IG" rating going forward.

    Moodys seems to have rated the same as well.

  11. Ad Fairy Senior Member
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