DISH guides $750 million 10-year bullet at 8%-8¼%; deal size expected to grow; pricing Wednesday

By Paul A. Harris

Portland, Ore., June 8 – DISH DBS Corp., a subsidiary of DISH Network Corp., plans to price a $750 million offering of non-callable 10-year senior notes (expected ratings Ba3/BB-) on Wednesday, according to market sources.

The deal size is expected to grow, perhaps to $1.5 billion to as much as $2 billion, sources say.

Initial guidance has the bullet deal coming to yield 8% to 8¼%, traders say. However that pricing will almost certainly drop into the high 7% context, they add.

Deutsche Bank Securities Inc. has the books for the Rule 144A and Regulation S offering.

The Englewood, Colo.-based satellite broadcasting company plans to use the proceeds for strategic transactions, which may include wireless and spectrum-related transactions.

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