Dish Network said Wednesday that it will raise about $2.3 billion in debt that could be used for wireless spectrum purchases.
In a statement the satellite giant said it had priced $1.1 billion in 5.125% senior notes due 2020 and another $1.2 billion in 4.25% senior notes due in 2018. Proceeds would be used for general corporate purposes, "which may include wireless and spectrum-related transactions," Dish said in a statement. The offering is expected to close on April 5.
The amount is more than double the $1 billion Dish said it hoped to raise on April 2, and the higher amount indicates that demand was strong for the debt.
The news sent Dish’s stock down by about 2% (82 cents) to $37.25 per share in early trading Wednesday.
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