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Bond Market News
EchoStar to Hold $24bn in Cash After Spectrum Sales
September 16, 2025
Echostar expects to have $24.1bn in cash after repaying $11.4bn of debt with proceeds from recent spectrum sales. The company sold spectrum licenses to AT&T for $23bn and SpaceX for about $17bn, bringing in $31.2bn in proceeds. Earlier, Echostar was facing an FCC investigation over slow 5G rollout. The FCC said last week that it would terminate its investigation after the AT&T and SpaceX deals. However, the overall deal still awaits an approval by the FCC. Echostar said that it would now focus on expanding the Boost Mobile hybrid MVNO (mobile virtual network operator) by using AT&T’s network and integrating satellite connectivity through Starlink direct-to-cell service. EchoStar will retain spectrum in the AWS-3 band and continue operating satellite TV service Dish TV, streaming platform Sling, and internet services Hughes for enterprise customers. Echostar aims to position itself for growth in wireless, satellite and technology sectors.
DISH’s 5.125% 2029s were trading stable at 87.5, yielding 9.2%. Hughes Satellite’s 5.25% 2026s were trading with a slight positive bias at 98.4, yielding 7.18%.
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