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Bond Market News
DISH’s Bonds Rally on Reports of Possible Merger Between Dish and EchoStar
July 7, 2023
DISH’s bonds rallied by over 1-2 points across the curve after its Chairman Charlie Ergen was said to consider merging Dish and EchoStar, as per sources. EchoStar Communications was founded in 1980 and in 2008, Charlie Ergen changed its name to Dish Network and spun off its technology unit into a new company EchoStar Corp. In 2019, EchoStar completed a transaction with DISH Network to transfer the portion of its business that manages and provides broadcast satellite services to DISH to focus on broadband services and other initiatives.
DISH’s 5.875% 2024s were up 2.6 points to 90.84, yielding 13.54%.
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