EchoStar Gains On Debt Offering

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EchoStar Communications Corp. stock jumped 6% to $40.05 per share Thursday after the direct-broadcast satellite company announced that it would issue $1.54 billion
in bonds with plans to use the proceeds to repurchase debt.

EchoStar did not specifically mention debt that is convertible into common stock in a statement announcing the offering.

It said it would use proceeds to repurchase debt that included its 9 3/8% senior notes due in 2009.