Dish Network needs $1bn of fresh borrowing
June 25, 2020
Charlie Ergen’s pay-TV operation Dish Network is offering the financial market $1 billion of fresh financing in the form of new Senior Notes. The net proceeds of the offering are intended to be used for general corporate purposes.
The offering of this fresh debt goes only to qualified institutional investors. Pricing and precise terms have yet to be announced.
Dish is in the process of buying Sprint’s Boost Mobile business from T-Mobile in order to build a 4th US national wireless service. The purchase is likely to close by July 1st.
Once the deal goes through Ergen/Dish will have 7-years of access to the (former) Sprint’s assets including Boost Mobile, Virgin Mobile and Sprint Prepaid brands and services.