By Paul A. Harris
St. Louis, May 20 - EchoStar DBS Corp. priced an upsized $750 million issue of 7¾% seven-year senior unsecured notes (Ba3/BB-/) at 99.75 to yield 7.797%, or 435 basis points more than Treasuries, on Tuesday, according to an informed source.
There was no official price talk.
The issue was upsized from $500 million.
Credit Suisse was the bookrunner for the quick-to-market Rule 144A and Regulation S with registration rights issue, which was upsized from $500 million.
Proceeds will be used for general corporate purposes.
The issuer is a subsidiary of Englewood, Colo.-based satellite television company DISH Network Corp.
| Issuer: | EchoStar DBS Corp.
|
| Amount: | $750 million, increased from $500 million
|
| Maturity: | May 31, 2015
|
| Security description: | Senior unsecured notes
|
| Bookrunner: | Credit Suisse
|
| Coupon: | 7¾%
|
| Price: | 99.75
|
| Yield: | 7.797%
|
| Spread: | 435 bps
|
| Call protection: | Non-callable
|
| Trade date: | May 20
|
| Settlement date: | May 27
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB-
|
| Distribution: | Rule 144A/Regulation S with registration rights
|
| Price talk: | None
|
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