ENGLEWOOD, Colo., June 7, 2016 /PRNewswire/ -- EchoStar
Corporation (NASDAQ: SATS) ("EchoStar") today announced that its
subsidiary, Hughes Satellite Systems Corporation ("HSSC"),
completed its offers (each, a "Change of Control Offer") to
repurchase for cash all or any part of its 6½% Senior Secured Notes
due 2019 (CUSIP Number 444454 AB8) (the "Secured Notes") and its
7⅝% Senior Notes due 2021 (CUSIP Number 444454 AA0) (together with
the Secured Notes, the "Notes"), in each case at a purchase price
equal to 101% of the aggregate principal amount thereof, together
with accrued and unpaid interest thereon to the date of
repurchase. The Change of Control Offers expired at
5:00 P.M. (Eastern Daylight Time) on
June 6, 2016, with none of the Notes
tendered for repurchase. As previously disclosed, following the
completion of the Change of Control Offers, all outstanding Notes
will again be reported as long-term debt on EchoStar's and HSSC's
consolidated balance sheets.
About EchoStar
EchoStar Corporation (NASDAQ: SATS) is a premier global provider of
satellite and video delivery solutions. Headquartered in
Englewood, Colo., and conducting
business around the globe, EchoStar is a pioneer in secure
communications technologies through its EchoStar Satellite
Services, EchoStar Technologies and Hughes Network Systems business
segments. For more information, visit echostar.com. Follow
@EchoStar on Twitter.
Safe Harbor Statement under the US Private Securities
Litigation Reform Act of 1995
This press release may contain statements that are forward looking,
as that term is defined by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
management's beliefs, as well as assumptions made by, and
information currently available to, management. When used in this
release, the words "believe," "anticipate," "estimate," "expect,"
"intend," "project," "plans," and similar expressions and the use
of future dates are intended to identify forward looking
statements. Although management believes that the expectations
reflected in these forward looking statements are reasonable, it
can give no assurance that these expectations will prove to have
been correct. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date made.
These statements are subject to certain risks, uncertainties, and
assumptions. See "Risk Factors" in EchoStar's and HSSC's Annual
Reports on Form 10-K for the year ended December 31, 2015 and Quarterly Reports on Form
10-Q for the quarterly period ended March
31, 2016 filed with the Securities and Exchange Commission
and in the other documents EchoStar and HSSC file with the
Securities and Exchange Commission from time to time.
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SOURCE EchoStar Corporation