SiriusXM Weekly Stock Talk 4/28-5/2

yeah, great call on the timing.

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Originally Posted by Wolf Child

Close... 750 million

still a pretty good call :thumbsup:

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More $ for Malone's bait $ buy backs. Look how it worked out for the share holders with all of the buying back of shares over the last year. SP is basically the same as a year ago but Malone pulled out $500,000,000.:puke:

Hope we get the positive reaction now.....750 mn clears out those 7% converts....would be nice to get those off the books.


EDIT: Funny how we just happened to have a huge white candle the day before the offering goes public......or is it

POS stock and market....someone/MMs new what was up...another move up will confirm that. If not then we get SXMI's dead cat shoved up our collective A$$s.

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Originally Posted by SN38

More $ for Malone's bait $ buy backs. Look how it worked out for the share holders with all of the buying back of shares over the last year. SP is basically the same as a year ago but Malone pulled out $500,000,000.:puke:

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They probably will use most for the dam 2014 convertibles that are still hurting this stock.

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Originally Posted by sxminvestor

They probably will use most for the dam 2014 convertibles that are still hurting this stock.

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That wouldn't be a bad idea. Thinking about it more it's like buying back 270M shares for $750M or $2.77/share. Don't know if the bond holders would go for it though....

Doesn't Malone own a bunch of them? As I said, more $ for Malone. He keeps taking more $ out but his % stays the same or improves, like getting free money. Meanwhile the SP has gone nowhere.

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Originally Posted by sxminvestor

They probably will use most for the dam 2014 convertibles that are still hurting this stock.

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LOL Denco...we still think alike. I wrote that before seeing your message !

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Originally Posted by denco1

Hope we get the positive reaction now.....750 mn clears out those 7% converts....would be nice to get those off the books.


EDIT: Funny how we just happened to have a huge white candle the day before the offering goes public......or is it

POS stock and market....someone/MMs new what was up...another move up will confirm that. If not then we get SXMI's dead cat shoved up our collective A$$s.

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Looks like SIRI drew down $420M from the revolver after Q1 to finance the $340M Liberty buyback and plus $80M of other buybacks. I believe at the end of Q1, the outstanding balance on the revolver was around $310M...


Rating Action: Moody's assigns B1 to Sirius' proposed senior unsecured notes; Ba3 CFR affirmed




Global Credit Research - 01 May 2014





$750 million of new debt rated

New York, May 01, 2014 -- Moody's Investors Service ("Moody's") assigned B1 to Sirius XM Radio Inc.'s ("Sirius") proposed $750 million senior unsecured notes. Most of the net proceeds from the new notes are expected to repay $730 million of outstandings under the company's $1.25 billion senior secured revolving credit facility (unrated). In addition, Moody's affirmed the company's Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating as well as all existing instrument ratings. The B1 rating on the proposed and existing senior unsecured notes reflects their effective subordination to the unrated secured revolver and the 5.25% senior secured notes. The rating outlook is stable.

Damn......sometimes you just get lucky.....WOW

http://finance.yahoo.com/news/sirius...202300951.html

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Sirius XM Radio Inc. Prices Offering Of $1.5 Billion Of 6.00% Senior Notes due 2024

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Looks like they're not Fng around...

*Standing Applause*

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Originally Posted by denco1

Damn......sometimes you just get lucky.....WOW

http://finance.yahoo.com/news/sirius...202300951.html


there we go, $1.5B is more like it!


Looks like they're not Fng around...

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Thanks Wolf!

Those 7% converts have to be in play with the 1.5 bn......which is why I was hoping for something in that range.

Either they have a deal in place to redeem at a premium or they are ready to buy hard now through December when they convert to shares.

EDIT: With the 1.5 bn + the additional 400 ish mn borrowed against the revolver to complete the Liberty buyback......their debt to Ebitda ratio stands at about 4.16 to 1. Take out the 7% converts and that ratio gets back under 4.......about 3.8 to 1........or a comparable pay down on the revolver with the proceeds.

Denco...great call my friend!!!!

JS

Thanks JS

Hope we get the move up to go along with it......GL to the longs

Hey DC1, are you a closet MM???? Great call, bro! :thumbup:

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Originally Posted by denco1

Now if they would throw us a little bone like a $1.5 bn bond offering tomorrow morning....we could break this downtrend and close above $3.25.

This POS wants to pop off of the best white candle we've seen in the last 4+ months on the highs......wishful thinking I guess on the bone...hoping though....wishing....praying:rain:......:scared:

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Ha....that'd be awesome MLS........we'd all be rich. Thanks man!....a lucky guess with the long white candle low to high of the day yesterday. Just hope we get some follow through. The longs have been battered for 6+ months.....we need a turn.

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Originally Posted by SN38

More $ for Malone's bait $ buy backs. Look how it worked out for the share holders with all of the buying back of shares over the last year. SP is basically the same as a year ago but Malone pulled out $500,000,000.:puke:

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+1

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Originally Posted by denco1

Ha....that'd be awesome MLS........we'd all be rich. Thanks man!....a lucky guess with the long white candle low to high of the day yesterday. Just hope we get some follow through. The longs have been battered for 6+ months.....we need a turn.

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Awesome call Denco! I think you're right, SIRI needs a turn soon....

Not sure what I wrote didn't go through, but great call Denco. I like that they are being aggressive and doing $1.5B now and getting the debt/EBITDA ratio up to 4 quickly....

Thanks BassMan and Steiny!

Yes, being more aggressive in appearance with the 1.5 bn may give the longs a bit of support in the short term. What will really give the longs some support for the next few months going into year end will be acting on the aggressive appearance and hitting the open market at these low levels...........GL to the longs