Dish Network said it has closed a $3 billion offering of convertible notes, proceeds of which could be used to purchase wireless spectrum.
Dish had previously announced the offering of 3.375% convertible notes due in 2026 at about $2 billion with the initial purchaser of the notes granted an option to purchase an additional $400 million in notes. That was later increased to $2.5 billion in notes with an option to purchase an additional $500 million.
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The net proceeds of $2.723 billion – before offering expenses – are “intended to be used for strategic transactions, which may include wireless and spectrum related strategic transactions” and for general corporate purposes,” Dish said in a statement.
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