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News
Sirius XM exceeds expectations on sale of new debt
The original offering of $550 million in private placement notes was raised substantially, up to $800 million, due to demand. The new notes mature in 2015 and were offered to institutional investors only. Moody’s Investors Services observes that another benefit to Sirius XM is that the current notes that will be retired (due in 2013) contain restrictions on areas Sirius might enter, such as collaborating with WorldSpace. That company, which offers satellite radio services outside the U.S., is in Chapter 11 bankruptcy protection. Liberty Media has interests in both companies and might want to use the expertise of Sirius XM with WorldSpace. This morning’s T-R-I Newsletter notes that Sirius XM management has less welcome news coming: a de-listing warning from the Nasdaq exchange. The company had a March 15 deadline (today) to get its stock above the $1-per-share level for 10 consecutive days, and it hasn’t accomplished that. Follow Sirius XM stock (“SIRI”).
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Making Moves: Thursday, April 26, 2012























