DISH Network Announces Debt Offering

Rhea-AI Summary

DISH Network Corporation (NASDAQ: DISH) announced plans for its subsidiary, DISH DBS Corporation, to offer approximately $1.25 billion in senior notes. The proceeds will be used for general corporate purposes, including refinancing debt. The offering is aimed at qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. The notes are unregistered and cannot be offered in the U.S. without registration or exemption. This announcement includes forward-looking statements, which are subject to risks and uncertainties.

Positive

• Proceeds of approximately $1.25 billion intended for refinancing of indebtedness.

Negative

• Notes are unregistered, posing risks for investors.
• Forward-looking statements involve uncertainties that may affect actual results.

ENGLEWOOD, Colo., May 10, 2021 /PRNewswire/ -- DISH Network Corporation ("DISH Network") (NASDAQ: DISH) today announced that its subsidiary, DISH DBS Corporation ("DISH DBS"), plans to offer, subject to market and other conditions, approximately $1,250,000,000 aggregate principal amount of its senior notes. The net proceeds of the offering are intended to be used for general corporate purposes, including refinancing of indebtedness.

The notes will only be offered and sold to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and in offshore transactions in accordance with Regulation S under the Securities Act.  The notes being offered have not been registered under the Securities Act or the securities laws of any other jurisdiction.  The notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.  This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes; nor shall there be any sale of these notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in DISH Network's and DISH DBS' Disclosure Regarding Forward-Looking Statements included in their recent filings with the Securities and Exchange Commission, including their annual reports on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements speak only as of the date made, and DISH Network and DISH DBS expressly disclaim any obligation to update these forward-looking statements.

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SOURCE DISH Network Corporation

FAQ

What is DISH Network's recent debt offering announcement?

DISH Network announced a plan to offer approximately $1.25 billion in senior notes through its subsidiary, DISH DBS Corporation, for refinancing debt and other corporate purposes.

Who can purchase DISH Network's senior notes?

The senior notes will be offered only to qualified institutional buyers under Rule 144A and in offshore transactions under Regulation S.

What are the risks associated with DISH Network's debt offering?

The notes are unregistered and cannot be sold in the U.S. without proper registration or exemption, posing investment risks.

What will the proceeds from DISH Network's debt offering be used for?

The net proceeds are intended for general corporate purposes, including refinancing existing indebtedness.

What are forward-looking statements in DISH Network's press release?

Forward-looking statements in the press release indicate potential future risks and uncertainties that could impact actual results.