EchoStar Corporation Announces Exchange Offers and Consent Solicitations by DISH DBS Issuer LLC for Certain Existing Senior Notes Issued by DISH DBS Corporation

ENGLEWOOD, Colo., Jan. 16, 2024 /PRNewswire/ — EchoStar Corporation (Nasdaq: SATS) (“EchoStar“) today announced that its newly formed subsidiary DISH DBS Issuer LLC (“DBS Issuer“) (also known as DBS Subscriber Subsidiary) has commenced offers (the “Exchange Offers“) to Eligible Holders (as defined below) to exchange (x) up to $1,000,000,000 aggregate principal amount of the 5.875% Senior Notes due 2024 (the “DBS 2024 Notes“) issued by DISH DBS Corporation (“DBS“), a subsidiary of EchoStar, for Series 2024-1 Class A-1 10.00% Senior Secured Notes due 2030 (the “DBS Issuer Class A-1 Notes“) and (y) up to an aggregate principal amount described below of (i) the 7.75% Senior Notes due 2026 issued by DBS (the “DBS 2026 Notes“), (ii) the 7.375% Senior Notes due 2028 (the “DBS 2028 Notes“) and (iii) the 5.125% Senior Notes due 2029 (the “DBS 2029 Notes,” and together with the DBS 2024 Notes, the DBS 2026 Notes and the DBS 2028 Notes, the “Existing DBS Notes“), each for 2024-1 Class A-2 10.00% Senior Secured Notes due 2034 (the “DBS Issuer Class A-2 Notes” and, together with DBS Issuer Class A-1 Notes, the “DBS Issuer Notes“). The DBS Issuer Notes are to be issued by DBS Issuer, in each case, pursuant to the terms described in an exchange offer memorandum and consent solicitation statement, dated January 16, 2024 (the “Exchange Offer Memorandum“). The DBS Issuer Notes will be secured by the assets of DBS Issuer, which include approximately 3.0 million DISH TV subscribers. 

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