Dish Network 2010 Annual Report Download - page 114
Download and view the complete annual report
Please find page 114 of the 2010 Dish Network annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
 |
 |
DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-29
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.
7 % Senior Notes due 2019
On August 17, 2009, we issued $1.0 billion aggregate principal amount of our ten-year, 7 % Senior Notes
due September 1, 2019 at an issue price of 97.467%. Interest accrues at an annual rate of 7 % and is
payable semi-annually in cash, in arrears on March 1 and September 1 of each year.
On October 5, 2009, we issued $400 million aggregate principal amount of additional 7 % Senior Notes due
2019 at an issue price of 101.750% plus accrued interest from August 17, 2009. These notes were issued as
additional notes under the indenture, dated as of August 17, 2009, pursuant to which we issued the $1.0 billion
discussed above. These notes and the notes previously issued under the related indenture will be treated as a
single class of debt securities.
The 7 % Senior Notes are redeemable, in whole or in part, at any time at a redemption price equal to 100%
of the principal amount plus a “make-whole” premium, as defined in the related indenture, together with
accrued and unpaid interest. Prior to September 1, 2012, we may also redeem up to 35% of each of the 7 %
Senior Notes at specified premiums with the net cash proceeds from certain equity offerings or capital
contributions.
The 7 % Senior Notes are:
• general unsecured senior obligations of DDBS;
• ranked equally in right of payment with all of DDBS’ and the guarantors’ existing and future
unsecured senior debt; and
• ranked effectively junior to our and the guarantors’ current and future secured senior
indebtedness up to the value of the collateral securing such indebtedness.
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:
• incur additional debt;
• pay dividends or make distributions on DDBS’ capital stock or repurchase DDBS’ capital stock;
• make certain investments;
• create liens or enter into sale and leaseback transactions;
• enter into transactions with affiliates;
• merge or consolidate with another company; and
• 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.