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DISH Network Announces Debt Offering

Discussion in 'General DISH™ Discussion' started by Stewart Vernon, Aug 12, 2009.

  1. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    [​IMG]

    ENGLEWOOD, Colo., Aug 12, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- DISH Network Corporation (Nasdaq: DISH) today announced that its subsidiary, DISH DBS Corporation, plans to offer approximately $1 billion aggregate principal amount of debt securities. The net proceeds of the offering are intended to be used for general corporate purposes.

    The notes will only be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and in offshore transactions in accordance with Regulation S under the Securities Act. The notes may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer solicitation or sale would be unlawful.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
    Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in DISH Network Corporation's Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K and its most recent quarterly report on Form 10-Q. The forward-looking statements speak only as of the date made, and DISH Network Corporation expressly disclaims any obligation to update these forward-looking statements.

    About DISH Network Corporation
    DISH Network Corporation (NASDAQ: DISH), the nation's HD leader, provides approximately 13.610 million satellite TV customers as of June 30, 2009 with the highest quality programming and technology at the best value, including the lowest all-digital price nationwide. Customers have access to hundreds of video and audio channels, the most HD channels, the most international channels, state-of-the-art interactive TV applications, and award-winning HD and DVR technology including 1080p Video on Demand and the ViP((R)) 722 HD DVR, a CNET and PC Magazine "Editors' Choice." DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 250 company. Visit www.dishnetwork.com.

    SOURCE DISH Network Corporation
    http://www.dishnetwork.com
    Copyright (C) 2009 PR Newswire. All rights reserved
     
  2. Curtis0620

    Curtis0620 Hall Of Fame

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    Need to pay for that TiVo lawsuit.
     
  3. jacmyoung

    jacmyoung Hall Of Fame

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    No settlement then?:)

    Not only did TiVo have no illusion they would get $1B, which was why they offered the alternate $600M, but Judge Folsom had said whatever the sanctions, if any, would not be enforced pending the appeal, which it appears will not be final until some time next year.

    There is no connection to be found if only one is familiar with the factual background. But if one can make any connection at all, the conclusion may be that there will be even less likely a settlement.
     
  4. phrelin

    phrelin Hall Of Fame DBSTalk Club

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    I don't know about paying for the Tivo lawsuit, but it will give them the "wiggle room" they badly needed as I noted on the quarterly thread. Interest on $1 billion is likely to be 40¢-50¢ per month per subscriber.
     
  5. jacmyoung

    jacmyoung Hall Of Fame

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    Now that is what I call a statement based on factual analysis:) I don't necessarily agree 100% but it is factual.
     
  6. Ron Barry

    Ron Barry 622 Tips & Trick Keeper

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    Ok folks lets not drag this thread into a another Tivo Lawsuit thread (We already have one of those). Please use that thread to discuss the Tivo vs. E* lawsuit
     
  7. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    Not to be redundant... but since I posted the Press Release in this thread, please don't splinter this into another Tivo thread.
     
  8. tedb3rd

    tedb3rd Godfather

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    Call me stupid, but what is a, "qualified institutional buyer?" etc., etc.
     
  9. scooper

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    I would guess something like a "Investment Bank", Investment funds, etc.
     
  10. Richard King

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    The securities aren't going to be registered with the SEC in the US, so they can't be sold to individuals. They will end up with institutional investors like mutual funds, pension funds, etc. Rule 144A securities are exempted from some of the reporting requirements of normal registered securities.
     
  11. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    ENGLEWOOD, Colo., Aug 12, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- DISH Network Corporation (Nasdaq: DISH) today announced that its subsidiary, DISH DBS Corporation, has priced an offering of $1 billion aggregate principal amount of debt securities at an issue price of 97.467%. The debt securities will be issued as 7.875% Senior Notes due 2019. The net proceeds of the offering are intended to be used for general corporate purposes.
    The offering is expected to close on August 17, 2009, subject to customary conditions.

    DISH DBS Corporation placed the notes in a private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer solicitation or sale would be unlawful.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
    Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in DISH Network Corporation's Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K and its most recent quarterly report on Form 10-Q. The forward-looking statements speak only as of the date made, and DISH Network Corporation expressly disclaims any obligation to update these forward-looking statements.

    About DISH Network Corporation
    DISH Network Corporation (NASDAQ: DISH), the nation's HD leader, provides approximately 13.610 million satellite TV customers as of June 30, 2009 with the highest quality programming and technology at the best value, including the lowest all-digital price nationwide. Customers have access to hundreds of video and audio channels, the most HD channels, the most international channels, state-of-the-art interactive TV applications, and award-winning HD and DVR technology including 1080p Video on Demand and the ViP(R)( )722 HD DVR, a CNET and PC Magazine "Editors' Choice." DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 250 company. Visit www.dishnetwork.com.

    SOURCE DISH Network Corporation
    http://www.dishnetwork.com
    Copyright (C) 2009 PR Newswire. All rights reserved
     
  12. Richard King

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    That was quick. Announce it and sell it.
     
  13. jacmyoung

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    If I understand it correctly, they were already sold yesterday?
     
  14. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    That's what it sounds/looks like... looks like they made the announcement one day, and announced the sale the next day.
     

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