Does anyone here know exactly how much money that needs to be refinanced in the merged companies over the coming year?
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Does anyone here know exactly how much money that needs to be refinanced in the merged companies over the coming year?
1 billion 50 million, The months they are due are, 300 million in converts in Feb., 350 million in credit in May, and 400 million in converts in Dec. all in 2009.
It is my personal opinion baring any collapse in the market that this financing is really all about nothing. The big deal really is how bad are the terms that SIRIXM gets.
A viable company with solid growth and profitability prospects will always attract financing.
The real question should be -- Can Sirius XM Radio deliver on guidance? If the answer is "yes", and this can be reasonably validated, then Mel has to make a deal. It just so happens that Mel is not only a great salesman, but he is a great deal maker.
I know the convert issue was disastrous and it hurt our stock. But to close the deal he was currently working on, it was a necessary evil. With the merger chapter closed, the priority has shifted to finding favorable terms to refinance existing debt.
I would expect that Mel has his bases covered. He's not only managing hundreds of millions worth of institutional dollars, but he's knee deep in 8.5 million shares! The pressures is on, except this time we don't have the FCC website to fill us in on every little step toward goal attainment.