US DTH operator Dish Network is to raise $4 billion (€3.45bn) in senior secured notes.
The cash-raising is being conducted through its Dish DBS Corporation sister company and will be used to fund an inter-company loan to Dish Network in order to finance the potential purchase of wireless spectrum licences.
The news comes on top of a decision by Dish to raise its subscription prices for the second time this year, after its somewhat underwhelming quarterly results last week.
Dish’s revenue fell 1.8 per cent and lost some 13,000 subscribers for the quarter. This was especially negative news when compared to the same quarter’s gain of some 116,000 subscribers a year ago.
However, it is clear that Dish, backed by Charlie Ergen, is now swiftly building out its 5G wireless network for the US (where it will be operating the fourth network in the country). Dish is now building out its new cellular network in 42 markets and is already in beta testing in Las Vegas. A formal launch is scheduled for Q1/2022.