EchoStar's subsidiary to partially redeem 6 1/2% senior secured notes due 2019.
M2 EQUITYBITES-May 13, 2015-EchoStar's subsidiary to partially redeem 6 1/2% senior secured notes due 2019
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EchoStar Corporation (Nasdaq:SATS), a provider of satellite and video delivery solutions, announced on Tuesday that Hughes Satellite Systems Corporation (HSSC), its subsidiary, has given notice of its intention to redeem USD110m of the outstanding USD1.1bn principal amount of HSSC's 6 1/2% senior secured notes due 2019.
Such secured notes are to be selected by the depository trust company for redemption in accordance with the depositary's applicable procedures.
Reportedly, the secured notes called for redemption will be redeemed on 12 June 2015 at a redemption price equal to 103.000% of the principal amount thereof, or USD1,030 for each USD1,000 principal amount of such redeemed secured note, plus any accrued and unpaid interest to, but excluding, the redemption date.
According to HSSC, it has instructed Wells Fargo Bank, National Association, as the trustee and paying agent for the secured notes, to distribute a notice of partial redemption to all registered holders of the secured notes no later than 12 May 2015.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 13, 2015|
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