EchoStar, Dish report restructuring support agreement with debtholders

In a regulatory filing, EchoStar (SATS) Corporation, DISH Network Corporation, DISH DBS Corporation and certain of DDBS’s subsidiaries disclosed that on March 19, they entered into a Restructuring Support Agreement with an ad hoc group representing more than 82% of holders of debt securities issued by DDBS. “The transactions contemplated by the RSA will, among other things, significantly deleverage the company,” the filing stated. “Pursuant to the terms and subject to the conditions set forth in the RSA, the Company will prepay without penalty certain DDBS Notes. In addition, the Company repaid in full, without penalty, the financing arrangements at DISH DBS Issuer L.L.C., as discussed in Item 1.02 below. The RSA adds certain protections for the DDBS Notes and adds financial flexibility and strategic optionality for the company, including increased flexibility to engage in potential M&A transactions. In addition, the DDBS noteholders and the Company mutually agreed that all pending litigation would be dismissed with prejudice… On March 16, 2026, DBS SubscriberCo prepaid without penalty its outstanding 11.25% term loan and 13.75% preferred membership interests totaling approximately $1.6 billion, in accordance with the Loan and Security Agreement,” the filing added.