Given that Sirius XM Radio (SIRI) may have trouble paying back the face value of the bonds due in 2009, I'm wondering why they are not trading at distressed prices already. Instead, what I see is that they have not traded at all since mid September, and even then at prices way below what I would expect something this risky to trade for. Any ideas on why there is no trading in that bond and why the trade prices don't reflect possible default?
- posted
15 years ago