Dish Network said it intends to raise about $2 billion in a convertible notes offering this week, proceeds of which could be used for strategic acquisitions, including spectrum purchases.
Dish added that it expects to grant the initial purchaser of the notes an option to buy an additional $400 million in notes, pushing the total value of the offering to about $2.4 billion.
In a Securities and Exchange Commission filing,Dish said the proceeds of the offering “are intended to be used for strategic transactions, which may include wireless and spectrum-related strategic transactions,” and for general corporate purposes.
Dish has been named as a potential bidder in the upcoming federal spectrum auctions. The satellite TV pioneer currently holds about 80 MHz of wireless spectrum, which some analysts value at as much as $20 billion.