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Dish Ups Borrowing by $2.3 Billion

3 Apr, 2013 By: Erik Gruenwedel

Satellite TV operator more than doubles previous day bond offer

Dish Network April 3 said it  is selling separate bonds totaling $2.3 billion to institutional investors. The offerings come a day after the satellite TV operator said it was selling $1 billion in bonds.

In the most recent announcement, Dish is offering of $1.1 billion of senior notes paying 5.125% annual interest due 2020 and $1.2 billion senior notes paying 4.250% annual interest due 2018. The offering is expected to close April 5.

Dish, which owns and operates the Blockbuster video store chain,  said the funds would be to be used for general corporate purposes, which may include wireless and spectrum-related strategic transactions.

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