May 11, 2021
Dish Network has big plans in the wireless and telecom business. To help fund its way and pay off existing debt, the corporate parent of satellite pay-TV distribution and online TV platform Sling TV announced that on May 10, its subsidiary, Dish DBS Corp., priced a long-term debt offering of $1.5 billion.
Net proceeds of the bond sale are intended to be used for general corporate purposes, including refinancing of indebtedness. The offering is expected to close on May 24 subject to customary conditions.
Last December, Dish issued $2 billion in long-term bonds, using the proceeds to for its nascent wireless spectrum business.
Sling TV in the first quarter of this year lost 100,000 subs, an improvement from a loss of 281,000 subs in the previous-year period. The platform ended the three-month period, which ended March 31, with 2.37 million subs, compared with 2.47 million subs at the end of 2020.