Dish Network subsidiary DBS Corp. will offer about...
Dish Network subsidiary DBS Corp. will offer about $2.5 billion in debt to help fund its proposed bid for Sprint Nextel. The net proceeds from the sale of the notes will go toward financing “a portion of the cash consideration…
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for Dish Network’s proposed merger with Sprint,” Dish said in a press release (http://bit.ly/16xxnPK). If the acquisition doesn’t occur on or before the escrow end date, “or if Dish DBS elects at any time on or prior to the escrow end date, Dish DBS will redeem all of the notes,” it said. In an ex parte filing, Dish continued to urge the FCC to require SoftBank and Sprint to submit additional information on their plans to use the mobile broadband spectrum at stake in SoftBank’s bid for Sprint, it said. To date, the applicants haven’t provided the information, “and there is insufficient information in the record for the commission to conduct a full public interest analysis,” it said (http://bit.ly/13vGKfI). Because Dish is “uniquely positioned” to leverage its existing assets with Sprint’s network, a Dish-Sprint merger “provides valuable spectrum utilization and public interest benefits that are absent in the SoftBank deal,” Dish said. The filing recounted a meeting of Dish representatives and staff from Commissioner Ajit Pai’s office.