Dish Says Debt Offering Could Be Used for Spectrum
Dish Network might use some or all the $2.5 billion it hopes to raise in a convertible note offering in the broadcast incentive auction. The company said in a news release Wednesday that proceeds from its debt offering announced the…
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previous day "are intended to be used for strategic transactions, which may include wireless and spectrum-related strategic transactions, and for other general corporate purposes." In a note to investors Tuesday, Citigroup analyst Jason Bazinet said Dish's fundraising may point to its thinking it can buy spectrum in the 600 MHz auction below the spectrum's intrinsic value, with the longer-term goal of selling the company to an existing wireless company.