Dish Network 2009 Annual Report Download - page 119

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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-29
The Indenture related to the 7 % Senior Notes contains restrictive covenants that, among other things, impose
limitations on the ability of DDBS and its restricted subsidiaries to:
x incur additional debt;
x pay dividends or make distributions on DDBS’ capital stock or repurchase DDBS’ capital stock;
x make certain investments;
x create liens or enter into sale and leaseback transactions;
x enter into transactions with affiliates;
x merge or consolidate with another company; and
x transfer or sell assets.
In the event of a change of control, as defined in the related indenture, we would be required to make an offer to
repurchase all or any part of a holder’s 7 % Senior Notes at a purchase price equal to 101% of the aggregate
principal amount thereof, together with accrued and unpaid interest thereon, to the date of repurchase.
Interest on Long-Term Debt
Annual
Semi-Annual Debt Service
Payment Dates Requirements
6 3/8% Senior Notes due 2011................... April 1 and October 1 63,750,000$
7% Senior Notes due 2013......................... April 1 and October 1 35,000,000$
6 5/8% Senior Notes due 2014................... April 1 and October 1 66,250,000$
7 3/4% Senior Notes due 2015................... May 31 and November 30 58,125,000$
7 1/8% Senior Notes due 2016................... February 1 and August 1 106,875,000$
7 7/8% Senior Notes due 2019................... March 1 and September 1 110,250,000$
Our ability to meet our debt service requirements will depend on, among other factors, the successful execution of
our business strategy, which is subject to uncertainties and contingencies beyond our control.
Fair Value of our Long-Term Debt
The following table summarizes the book and fair values of our debt facilities at December 31, 2009 and 2008:
Carrying
Value Fair Value
Carrying
Value Fair Value
3% Convertible Subordinated Note due 2011.............. $ - $ - $ 25,000 $ 23,768
6 3/8% Senior Notes due 2011.................................... 1,000,000 1,028,750 1,000,000 899,000
7 % Senior Notes due 2013.......................................... 500,000 515,000 500,000 419,000
6 5/8% Senior Notes due 2014.................................... 1,000,000 1,010,000 1,000,000 840,300
7 3/4% Senior Notes due 2015.................................... 750,000 789,375 750,000 600,000
7 1/8% Senior Notes due 2016.................................... 1,500,000 1,548,750 1,500,000 1,246,890
7 7/8% Senior Notes due 2019.................................... 1,400,000 1,473,500 - -
Mortgages and other notes payable ............................. 42,107 42,107 46,211 46,211
Subtotal........................................................................ 6,192,107 6,407,482 4,821,211 4,075,169
Capital lease obligations (1)......................................... 304,457 N/A 186,545 N/A
Total long-term debt (including current portion)......... 6,496,564$ 6,407,482$ 5,007,756$ 4,075,169$
2009 2008
(In thousands)
As of December 31,
(1) Disclosure regarding fair value of capital leases is not required.