Dish to Raise $2.3B For Possible Spectrum PurchasesAmount is Double What Satellite Giant Originally Planned 4/03/2013 9:27 AM Eastern
Dish Network said Wednesday that it will raise about $2.3 billion in debt that could be used for wireless spectrum purchases.
In a statement the satellite giant said it had priced $1.1 billion in 5.125% senior notes due 2020 and another $1.2 billion in 4.25% senior notes due in 2018. Proceeds would be used for general corporate purposes, "which may include wireless and spectrum-related transactions," Dish said in a statement. The offering is expected to close on April 5.
The amount is more than double the $1 billion Dish said it hoped to raise on April 2, and the higher amount indicates that demand was strong for the debt.