🔴 SIRI is trading 4.1% down today after completing debt refinancing

SIRI is trading at $21.33, down 4.1% today after completing a $499 million tender offer for its 3.125% Senior Notes due 2026.

• The company accepted $498.9 million in valid tenders (49.89% of the $1 billion outstanding) and funded the purchase using proceeds from a new $1.25 billion offering of 5.875% senior notes due 2032.
• While the refinancing is a routine debt management move, the broader market selloff—with major indices down 1.2-1.4% amid geopolitical tensions and inflation concerns—likely amplified the stock's decline.