Orlando, FL -- (SBWIRE) -- 09/27/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Sirius XM Radio Inc(NASDAQ:SIRI), Office Depot Inc (NYSE:ODP).
Sirius XM Radio Inc(NASDAQ:SIRI) shares increased 2.64% to $3.93. The company on Sept. 25 announced that, on October 25, 2013, it will redeem all of its outstanding 7.625% Senior Notes due 2018 (CUSIP Nos. 98375YAZ9 and U98408AF1). As of September 25, 2013, $539,551,000 of the 7.625% Notes remains outstanding. SiriusXM intends to use the proceeds from the issuance of $650 million aggregate principal amount of its 5.875% Senior Notes due 2020 to fund the redemption.
Additionally, the company on Sept. 19 priced an offering of $650 million of Senior Notes due 2020. The notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S of the Securities Act. The notes will bear interest at an annual rate of 5.875%. The price to investors will be 100% of the principal amount of the notes. The company will receive gross proceeds of $650 million from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.
Are investors worried about the recent updates with SIRI? Find out with a free trend analysis HERE
Office Depot Inc (NYSE:ODP) shares closed at $4.72. The Office Depot Foundation - the independent, nonprofit philanthropic arm of Office Depot, Inc. (NYSE: ODP), a leading global provider of school supplies and services on Sept. 16 invites middle schools across the United States to participate in the Foundation's new "Be The Difference. Speak Up Against Bullying!" Program.
Additionally, the company on August 29 announced the results of its previously announced cash offer to purchase any and all of its $250,000,000 in aggregate principal amount of outstanding 9.75% Senior Secured Notes due 2019 (CUSIP 676220AG1 and U67518AC1) (the "notes") pursuant to its offer to purchase dated July 30, 2013 (the "Offer to Purchase"). As of the expiration time of the offer (11:59 p.m., Eastern time, August 28, 2013), the Company did not receive any valid tenders from holders of the notes.
Is ODP going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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