SATWAVES

SIRI: A look At Sirius XM Radio’s Debt Refinancing (Part 1)

By Brandon Matthews News of Sirius XM Radio's (NASDAQ: SIRI) debt refinancing on Friday has been met with widespread applause by even the company's harshest critics. The news that the company had moved $500 million of its 2013 debt obligations at a lower interest rate of 8 3/4% to 2015 was applauded by all. Late Friday, news followed that the company had increased its offering by $300 million to refinance a 2012 loan obligation, which carried an interest rate of only 2.56 %. This has led to s...

Want Sirius XM Bonds? Take A Number!

Want Sirius XM Bonds? Take A Number! There can be no denying the fact that Wall Street is looking at Sirius XM Radio with new interest...Literally! Today's $350 million bond offering was met with demand that would seem highly improbable even in today's potentially inflationary environment. Not only was the 11.25% interest rate far below the rumored expectation of 13%, the issue was increased from $350 million to $525.8 million. It was only months ago that the credit markets had frozen to a po...