Echostar Sells $500 Million in Debt Securities

Echostar DBS Corp., a subsidiary of satellite television operator Echostar Communications Corp. has sold $500 million of seven-year notes in the 144a private placement market, media reports said on Friday.

Reuters reported sources said Deutsche Bank Securities Inc. and J.P. Morgan were the joint lead managers for the sale.

The company announced late Thursday it was selling about $500 million in debt securities, and that the net proceeds would replace cash on hand. The move will redeem the company's outstanding floating rates due 2008. The securities reportedly will be available on Sunday, Oct. 1.

Echostar Communications Corp. www.echostar.com

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