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Bond Market News
Echostar Averts Default with a Last Minute Interest Payment
August 1, 2025
EchoStar, the parent company of DISH, narrowly avoided a default on a $114mn interest payment. The payment was made on the final day of a 30-day grace period. The company is currently facing scrutiny from the FCC, which is reviewing whether EchoStar has fulfilled its buildout obligations for its 5G spectrum licenses and if it is efficiently utilizing its mobile-satellite service spectrum. The FCC Chairman has publicly stated his belief that EchoStar’s airwaves are underused.
However, while EchoStar maintains it has met all requirements, the FCC Chairman has reportedly made an offer for the company to sell some of its licenses. Sources say that the ongoing FCC inquiries and a separate proceeding regarding shared spectrum use could potentially devalue the licenses, making them less attractive to major wireless carriers.
DISH’s dollar bonds traded stable with its 5.75% 2028s at 89.8, yielding 9.4%.
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