ENGLEWOOD, Colo., Jan. 17,
2023 /PRNewswire/ -- DISH Network Corporation ("DISH
Network") (NASDAQ: DISH) today announced that it priced an offering
of $1,500,000,000 aggregate principal
amount of its 11.750% Senior Secured Notes due 2027 (the "Notes").
The Notes will be issued at an issue price of 102.000% of the
principal amount. The net proceeds of the offering are intended to
be used for general corporate purposes, including the buildout of
wireless infrastructure. The Notes will be secured by certain
assets of certain DISH Network subsidiaries.
The Notes are a further issuance of the $2,000,000,000 aggregate principal amount of
11.750% Senior Secured Notes due 2027 issued by DISH Network on
November 15, 2022 (the "Initial
Notes"). The Notes will form a single series with, have the same
terms (other than their issue date and price to the public) and the
same CUSIP number (except that the Notes that are issued pursuant
to Regulation S will trade separately under a different CUSIP
number until at least 40 days after the issue date of the Notes,
subject to the terms of the Indenture and the applicable procedures
of the depositary) as, and are expected to be fungible
for trading purposes with, the Initial Notes. Following the
completion of this offering, the aggregate principal amount of DISH
Network's 11.750% Senior Secured Notes due 2027 outstanding will be
$3,500,000,000. The offering is
expected to close on January 26, 2023
subject to customary conditions.
The Notes will only be offered and sold to persons reasonably
believed to be qualified institutional buyers in accordance with
Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), and in offshore transactions in accordance with
Regulation S under the Securities Act. The Notes being offered have
not been registered under the Securities Act or the securities laws
of any other jurisdiction. The Notes may not be offered or sold in
the United States absent
registration or an applicable exemption from registration
requirements. This press release does not constitute an offer to
sell or a solicitation of an offer to buy any of the Notes; nor
shall there be any sale of these Notes in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Except for historical information
contained herein, the matters set forth in this press release are
forward-looking statements. The forward-looking statements set
forth above involve a number of risks and uncertainties that could
cause actual results to differ materially from any such statement,
including the risks and uncertainties discussed in DISH Network's
Disclosure Regarding Forward-Looking Statements included in
its recent filings with the Securities and Exchange
Commission, including its annual reports on Form 10-K and
quarterly reports on Form 10-Q. The forward-looking statements
speak only as of the date made, and DISH Network expressly
disclaims any obligation to update these forward-looking
statements.
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SOURCE DISH Network Corporation