ENGLEWOOD, Colo., Nov. 8, 2021 /PRNewswire/ -- DISH Network
Corporation ("DISH Network") (NASDAQ: DISH) today announced that
its subsidiary, DISH DBS Corporation ("DISH DBS"), plans to offer,
subject to market and other conditions, approximately $4 billion aggregate principal amount of its
senior secured notes. The net proceeds of the offering are intended
to be used to make an intercompany loan to DISH Network in order to
finance the potential purchase of wireless spectrum licenses and
for general corporate purposes, including the buildout of wireless
infrastructure. The intercompany loan will be secured by (i) the
cash proceeds of the loan and (ii) an interest in any wireless
spectrum licenses acquired using such proceeds. In certain
cases, DISH Network wireless spectrum licenses (valued based upon a
third-party valuation) may be substituted for the
collateral. The intercompany loan will not be included as
collateral for the notes, and the notes will be subordinated to
DISH DBS's existing and certain future unsecured notes with respect
to certain realizations under the intercompany loan and any
collateral pledged as security for the intercompany loan.
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 and DISH DBS' Disclosure
Regarding Forward-Looking Statements included in their recent
filings with the Securities and Exchange Commission, including
their 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 and DISH DBS expressly disclaim any
obligation to update these forward-looking statements.
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SOURCE DISH Network Corporation