Shares are up today after Sirius announced Wednesday that it closed the previously announced offering of $700 million aggregate principal amount of 7.625% senior notes due 2018.
Sirius also said that it accepted for purchase the $489.1 million aggregate principal amount of its outstanding 11.25% senior secured notes due 2013.
Payment for the 11.25% notes purchased were made on Wednesday, October 27. The company is scheduled to release its third quarter financial results on November 4. It already announced that it added 334,727 net subscribers in the third quarter, compared with a net gain of 102,295 subscribers in the third quarter last year. Chief Executive Officer Mel Karmazin expects Sirius to end 2010 with approximately 20.1 million subscribers, which would be the highest number of net subscribers in its history. Sirius shares are currently up more than 3% to $1.45. The stock has been steadily gaining since its low of 56 cents one year ago. -- Written by Theresa McCabe in Boston.
>To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV