By Paul A. Harris
Portland, Ore., June 24 – DISH Network Corp. priced a $1 billion of issue eight-year senior notes (B2/B-) at par to yield 7 3/8% in a Wednesday drive-by, according to a market source.
J.P. Morgan Securities LLC was the lead manager.
The yield printed at the tight end of yield talk in the 7½% area. That talk came in line with initial guidance in the mid-7% area.
The notes were sold via DISH DBS Corp.
The Englewood, Colo.-based television provider plans to use the proceeds for general corporate purposes.
| Issuer: | DISH DBS Corp.
|
| Amount: | $1 billion
|
| Tenor: | Eight years
|
| Securities: | Senior notes
|
| Lead: | J.P. Morgan Securities LLC
|
| Coupon: | 7 3/8%
|
| Price: | Par
|
| Yield: | 7 3/8%
|
| Call protection: | Three years
|
| Trade date: | June 24
|
| Ratings: | Moody's: B2
|
| S&P: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7½% area
|
| Marketing: | Drive-by
|
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