This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Dish Nears Restructuring Deal with Convertible Bondholders
September 26, 2024
Dish Network is close to finalizing a restructuring deal with its convertible bondholders, according to the sources. The deal will involve a potential debt exchange at below-par prices for its convertible notes maturing in 2025 and 2026. The new money would be tied to wireless spectrum held at an unrestricted subsidiary, and proceeds will be used to fund network expansion, the sources added. The deal could happen by the end of the month, but details are still being finalized. It will help the company with new financing and extend debt maturities. Earlier in January, Dish had transferred its crown-jewel wireless spectrum licenses out of the reach of bondholders and into a new legal entity under EchoStar, its parent. This move spurred litigation with creditors organizing into several groups. The company has since been holding discussions with various creditor groups, as well as third-party investors, to provide new financing. Earlier, EchoStar had also launched a debt exchange offer for Dish’s convertible notes and subsequently scrapped it.
Dish’s bonds dropped slightly with its 5.25% 2026s down at 89.63, yielding 10.71%
For more details, click here
Go back to Latest bond Market News
Related Posts:DISH’s Bonds Plummet on Poor Earnings
November 7, 2023
LATAM Airlines Posts $692mn Q3 Loss
November 11, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.