Dish Network made a bid to acquire Sprint Nextel and issued $2.6 billion worth of bonds to help fund its move. The deal did not push through however and Dish Network gave up its bid to acquire the telecom giant.
Now it is set to pay back the securities in accordance with the term of the bond sales. By June 24, Dish will pay back $1.25 billion worth of its 5 %bonds. It will be paid at 100 cents to the dollar. Also on the same date, it would pay $1.35 billion worth of bonds at 6.25 %
There has been no official statement as to why Dish gave up its bid to acquire Sprint. The deal would have placed Dish as one of the largest telecommunications companies in America since Sprint is the third biggest wireless service provider in the US. Now, SoftBank is preparing its own bid for Sprint.
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