Dish Network to raise $2bn for 5G
December 16, 2020
By Chris Forrester
Charlie Ergen’s Dish Network says it will offer $2 billion-worth of convertible notes. Dish will also grant the initial purchaser of these notes an additional $300 million option.
Dish says: “The net proceeds of the offering are intended to be used for general corporate purposes, including 5G network buildout costs.”
The US DTH operator adds: “The notes will be unsecured obligations of Dish Network. Upon any conversion, Dish will settle its conversion obligation in cash, shares of its Class A Common Stock, or a combination of cash and shares of its Class A Common Stock, at its election. The interest rate, the initial conversion rate, and other terms and conditions of the notes will be determined by negotiations between Dish Network and the initial purchaser of the notes.”
Dish is busy rolling out its own 5G cellular plans. In June this year it bought Boost Mobile and wants a stand-alone US cellular service and gained FCC and Dept of Justice approvals to develop its plans in July.