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Dish Network sells $2 billion in debt securities

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Dish Network sells $2 billion in debt securities

2011-05-04 05:38:44 GMT+7 (ICT)

ENGLEWOOD, COLORADO (BNO NEWS) -- Dish Network Corporation on Tuesday announced that its subsidiary, Dish DBS Corporation, has priced an offering of $2 billion aggregate principal amount of debt securities at an issue price of 99.093 percent.

Dish said the debt securities would be issued as 6.75 percent Senior Notes due 2021, as the net proceeds of the offering were intended to be used for general corporate purposes.  

As the U.S.' second-largest satellite TV provider with 14.19 million customers as of March 31, Dish is expecting the offering to close on Thursday and is subject to customary conditions.

On Monday, Dish said it would pay TiVo Inc. $500 million to settle a patent lawsuit over its "Time Warp" digital video recorder technology.

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-- © BNO News All rights reserved 2011-05-04

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