EchoStar to start roadshow Thursday for $1.8 billion notes offering

By Paul A. Harris

Portland, Ore., May 11 - EchoStar Corp. will begin a roadshow on Thursday for a $1.8 billion offering of high-yield notes in two tranches, according to an informed source.

The deal is comprised of a $1 billion tranche of eight-year senior secured notes.

The senior secured notes will be non-callable but will come with a provision allowing the issuer to redeem 10% of the notes annually.

EchoStar also is selling $800 million of 10-year non-callable senior unsecured notes.

The roadshow wraps up on Tuesday.

Deutsche Bank Securities Inc. is the bookrunner for the Rule 144A with registration rights deal.

Proceeds will be used to fund the purchase of Hughes Communications, Inc.

The issuing entity will be EH Holding Corp., a subsidiary of EchoStar, an Englewood, Colo.-based provider of equipment sales, digital broadcast operations and satellite services.

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