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New Issue-Sirius Satellite sells $200 mln 7-yr conv notes

WHITE PLAINS, N.Y., Oct 8 (Reuters) - Sirius Satellite Radio Inc. (SIRI) late Thursday sold $200 million of seven-year senior unsecured convertible notes, market sources said on Friday.

The securities were sold with a coupon of 3.25 percent at a premium of 32.8 percent above the company's closing share price on Thursday of $3.99.

Morgan Stanley was the sole book-running manager for the sale, the sources said. BORROWER: SIRIUS SATELLITE RADIO INC. AMT $200 MLN* COUPON 3.25 PCT MATURITY 10/15/2011 CONV PRICE $5.30 CONV RATIO 188.6792 SETTLEMENT 10/13/2004 TYPE SR UNSEC CONV NTS ISS PRICE 100 FIRST PAY 4/15/2005 LAST MOODY'S N/A YIELD N/A PAY FREQ SEMI-ANNUAL LAST S&P N/A CNV PREM 32.8 PCT NON-CALLABLE *$30 MLN GREENSHOE OVERALLOTMENT OPTION (15 PCT)

R U M O R V I L L E
The Rumors you may or may
not want to know about ...

Microsoft to buy Sirius, could it be? Just a rumor floating around...but it would make sense to us. ( 6/15/06 )

* Our Members believe this is a prime time to buy, we see next week being very very bullish - Frank ( 4/25/06 )

* Could Toshiba be a SIRIUS partner for a portable/personal audio/video SIRIUS unit?

* With all that has been happening this week with both Sirius and XM, we here at SIRI News believe that a merger is in the works. It's no secret that both companies are burning cash, and they will need more. Someone big is bound to step into the game. ( 2/17/06 )

*fact: The Sirius Advertising blitz has started.


All statements contained are not verified for their accuracy. The statements may or may not be true and therefore are not to be relied on.
For entertainment purposes only.

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