Sirius XM Radio Inc. (NASDAQ:SIRI) will convert all out its outstanding 8.75% Senior Notes due 2015.

0
636

Dallas, Texas 08/02/2013 (Financialstrend) – Sirius XM Radio Inc. (NASDAQ:SIRI) made gains of 1.07% to close at $3.78 per share on Friday with intraday movements ranging from low of $3.74 to high of $3.79 per share. The 52 week low price for the stock is at $2.09 per share and 52 week high price is at $3.81 per share. There are 6.21billion shares in the market with institutional ownership of 29%. The trading volume on Friday was at 25.16 million shares with average level at 58.91 million shares per day.

Sirius XM Radio Inc. (NASDAQ:SIRI) is the globe’s largest radio broadcaster measured by profits and the firm has more than 25 million subscribers. The company had announced on 8th August 2013 that on September 3, 2013, it will convert all out its outstanding 8.75% Senior Notes due 2015. As of August 1, 2013, $753,487,000 of the 8.75% Notes remains outstanding. Sirius XM Radio Inc. (NASDAQ: SIRI)aims to use the profits from the issuance of $600,000,000 collective principal amount of its 5.75% Notes due 2021 and also cash on hand to deposit the restoration.

The announcement made by the firm is may be an offer to sell or a solicitation to buy any of these securities, and shall not constitute an offer, sale or solicitation in any jurisdiction in which an offer, sale or solicitation would be unlawful.

Before the deduction for the commission of preliminary purchaser, profits of $600 would be received by the firm. There will be amalgamation of the current cash as well as the profits from the issue of senior notes which would be used by the firm for the process of revitalization with regards to the earlier issued 8.75% of the senior notes. The amount will be due by the year 2015.

According to a new research report issued recently on the resoles of Sirius XM Radio Inc. (NASDAQ: SIRI) second quarter earnings outcomes and meeting call, RBC Capital Markets Global Media Analyst David Bank increases his price target on Sirius XM Radio Inc. (NASDAQ: SIRI) from $3.50 to $4.00, maintaining his previous Sector Perform/Speculative Risk rating.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.