ENGLEWOOD, Colo., July 20, 2016 /PRNewswire/ -- EchoStar
Corporation (NASDAQ: SATS) today announced that its subsidiary,
Hughes Satellite Systems Corporation ("HSSC"), placed an offering
of $750 million aggregate principal
amount of 5.250% Senior Secured Notes due 2026 at an issue price of
100.0% (the "Secured Notes") and $750
million aggregate principal amount of 6.625% Senior Notes
due 2026 at an issue price of 100.0% (the "Unsecured Notes" and,
together with the Secured Notes, the "Notes"). The net proceeds of
the offering are intended to be used for capital expenditures,
working capital and other general corporate purposes.
The offering is expected to close on July
27, 2016, subject to customary conditions.
The Notes will only be offered and sold to qualified
institutional buyers in accordance with Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act") and in
offshore transactions in accordance with Regulation S under the
Securities Act. The Notes will not be and have not been registered
under the Securities Act or the securities laws of any other
jurisdiction. The Notes may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
About EchoStar
EchoStar Corporation (NASDAQ: SATS) is a premier global provider of
satellite and video delivery solutions. Headquartered in
Englewood, Colo., and conducting
business around the globe, EchoStar is a pioneer in secure
communications technologies through its EchoStar Satellite
Services, EchoStar Technologies and Hughes Network Systems business
segments.
For more information, visit echostar.com. Follow @EchoStar on
Twitter.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release may contain statements that are forward looking,
as that term is defined by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
management's beliefs, as well as assumptions made by, and
information currently available to, management. When used in this
release, the words "believe," "anticipate," "estimate," "expect,"
"intend," "project," "plans," and similar expressions and the use
of future dates are intended to identify forward looking
statements. Although management believes that the expectations
reflected in these forward looking statements are reasonable, it
can give no assurance that these expectations will prove to have
been correct. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date made.
These statements are subject to certain risks, uncertainties, and
assumptions. See "Risk Factors" in EchoStar's and HSSC's Annual
Reports on Form 10-K for the year ended December 31, 2015 and Quarterly Reports on Form
10-Q for the quarterly period ended March
31, 2016 filed with the Securities and Exchange Commission
and in the other documents EchoStar and HSSC file with the
Securities and Exchange Commission from time to time. The
forward-looking statements speak only as of the date made, and
EchoStar Corporation and Hughes Satellite Systems Corporation
expressly disclaim any obligation to update these forward-looking
statements.
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SOURCE EchoStar Corporation