DISH Network Announces Secured Debt Offering

Rhea-AI Summary

DISH Network Corporation (NASDAQ: DISH) announced on Nov. 2, 2022, its intention to offer approximately $2 billion in senior secured notes, pending market conditions. The proceeds will be allocated for general corporate purposes, including expanding its wireless infrastructure. The notes, secured by DISH Network subsidiaries' assets, will be sold exclusively to qualified institutional buyers under Rule 144A and in offshore transactions. Registration under the Securities Act is not available, and this announcement does not constitute an offer or solicitation.

Positive

• Plans to offer $2 billion in senior secured notes could strengthen financial position.
• Funds intended for wireless infrastructure could enhance future growth potential.

Negative

• Not registered under the Securities Act could limit broader investment access.
• Dependence on market conditions may affect the successful completion of offering.

ENGLEWOOD, Colo., Nov. 2, 2022 /PRNewswire/ -- DISH Network Corporation ("DISH Network") (NASDAQ: DISH) today announced that it plans to offer, subject to market and other conditions, approximately $2 billion aggregate principal amount of its senior secured notes.  The net proceeds of the offering are intended to be used for general corporate purposes, including the buildout of wireless infrastructure.  The notes will be secured by certain assets of certain DISH Network subsidiaries.

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 Disclosure Regarding Forward-Looking Statements included in their recent filings with the Securities and Exchange Commission, including its 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 expressly disclaims any obligation to update these forward-looking statements.

 

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SOURCE DISH Network Corporation

FAQ

What is DISH Network planning to offer in November 2022?

DISH Network plans to offer approximately $2 billion in senior secured notes.

How will DISH Network use the proceeds from the secured notes?

The net proceeds are intended for general corporate purposes, including wireless infrastructure buildout.

Who can purchase the senior secured notes from DISH Network?

The notes will only be sold to qualified institutional buyers as per Rule 144A.

Are the notes offered by DISH Network registered under the Securities Act?

No, the notes have not been registered under the Securities Act.

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

The offering depends on market conditions and could face limitations due to lack of registration.