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EchoStar board authorizes $1 billion note buyback program
New York, Aug. 15 - EchoStar Communications Corp. said its board of directors has authorized a $1 billion principal amount repurchase program for its notes.
The authorization covers both EchoStar's own debt securities and those of its EchoStar DBS Corp. subsidiary.
Timing and terms of any purchases will depend on market conditions and other factors, the Littleton, Colo. satellite television company said. Purchases may be in the open market or privately negotiated transactions.
EchoStar DBS previously redeemed all its 9¼% senior notes due 2006 in February and announced the redemption of $245 million principal amount of its 9 1/8% senior notes due 2009 effective Sept. 3.
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