EchoStar said it elected not to make the approximately $326 million cash interest payment due on May 30, 2025 on its 10.75% senior spectrum secured notes due 2029.

1. 01

   EchoStar said it elected not to make the approximately $326 million cash interest payment due on May 30, 2025 on its 10.75% senior spectrum secured notes due 2029.

2. 02

   The company said that the non-payment is a default under the 2029 Spectrum Notes Indenture, and that it has a 30-day grace period to make the payment before the non-payment becomes an Event of Default.

3. 03

   The company said that on May 9, 2025, a letter from the FCC Chairman indicated that the FCC was beginning a review of its compliance with 5G obligations, and that the letter and public notices raised the possibility of reversing prior FCC grants of authority, effectively freezing its ability to make Boost business decisions.

4. 04

   The company said it did not make the interest payment to allow time for the FCC to provide the relief requested in its Response filed on May 27, 2025 before the 30-day grace period expires. It also said it is confident it has met, and has fully demonstrated that it has met, all applicable 5G buildout milestones.

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Original filing

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