EchoStar said it commenced offers to exchange all 0% Convertible Notes due 2025 and all 3.375% Convertible Notes due 2026 issued by its subsidiary DISH Network, for 10.00% Senior Secured Notes due 2030, with the offers announced on January 12, 2024.

8-KOther EventsFiled Jan 16, 2024Period of report Jan 12, 2024Summary published (UTC) Oct 31, 2026

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EchoStar said it commenced offers to exchange all 0% Convertible Notes due 2025 and all 3.375% Convertible Notes due 2026 issued by its subsidiary DISH Network, for 10.00% Senior Secured Notes due 2030, with the offers announced on January 12, 2024.
The company said the principal amount outstanding of the 0% Convertible Notes due 2025 subject to exchange is $1,957,197,000, and of the 3.375% Convertible Notes due 2026 is $2,908,801,000. It said the exchange consideration is EchoStar Notes in principal amounts of $610 and $510, respectively, per $1,000 principal amount of the notes.
The company said the EchoStar Notes will be guaranteed on a senior secured basis by DBSD Corporation and secured by first priority liens on 20 MHz of AWS-4 spectrum held by DBSD. It estimates the fair market value of that collateral at approximately $9 billion.
The company said the exchange offers and consent solicitations will expire at 11:59 p.m. New York City time on February 9, 2024. It said completion is subject to, among other conditions, the effectiveness of the Form S-4 registration statement and the tender of at least a majority of the outstanding principal amount of each applicable series, the Minimum Tender Condition.

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Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

EchoStar launches exchange offers for DISH Network convertible notes

EchoStar said it commenced offers to exchange all 0% Convertible Notes due 2025 and all 3.375% Convertible Notes due 2026 issued by its subsidiary DISH Network, for 10.00% Senior Secured Notes due 2030, with the offers announced on January 12, 2024.

Source · Based on the filing body and exhibits

Principal amounts subject to exchange and exchange consideration

The company said the principal amount outstanding of the 0% Convertible Notes due 2025 subject to exchange is $1,957,197,000, and of the 3.375% Convertible Notes due 2026 is $2,908,801,000. It said the exchange consideration is EchoStar Notes in principal amounts of $610 and $510, respectively, per $1,000 principal amount of the notes.

Source · Based on the filing body and exhibits

Guarantee and spectrum collateral for EchoStar Notes

The company said the EchoStar Notes will be guaranteed on a senior secured basis by DBSD Corporation and secured by first priority liens on 20 MHz of AWS-4 spectrum held by DBSD. It estimates the fair market value of that collateral at approximately $9 billion.

Source · Based on the filing body and exhibits

Expiration time and conditions to completion

The company said the exchange offers and consent solicitations will expire at 11:59 p.m. New York City time on February 9, 2024. It said completion is subject to, among other conditions, the effectiveness of the Form S-4 registration statement and the tender of at least a majority of the outstanding principal amount of each applicable series, the Minimum Tender Condition.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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