© Reuters.
ENGLEWOOD, Colo. – EchoStar Corporation (NASDAQ:SATS), a global communications company, announced the commencement of exchange offers aimed at restructuring the debt of its subsidiary DISH Network Corporation (NASDAQ:). The exchange offers pertain to the 0% Convertible Notes due 2025 and the 3.37% Convertible Notes due 2026, which are to be exchanged for 10% Senior Secured Notes due 2030 issued by EchoStar.
The restructuring is part of EchoStar’s strategy to reduce its consolidated indebtedness and extend its debt maturity profile, providing a foundation for continued strategic investment. The move is also seen as a step towards enhancing EchoStar’s capabilities to create a global leader in both terrestrial and non-terrestrial wireless connectivity, leveraging DISH Network’s satellite technology and 5G network.
The new EchoStar Notes will be backed by a…
