White & Case advises EchoStar’s pay-TV subsidiaries on the restructuring of its funded debt

Global law firm White & Case LLP has advised DISH DBS Corporation, the pay-TV subsidiary of EchoStar Corporation (NASDAQ: SATS), a premier provider of technology, networking services, television entertainment and connectivity, on its entry into a definitive restructuring support agreement (RSA) with an ad hoc group representing holders of more than 82 percent of DBS's debt securities.

Under the RSA, the company will significantly deleverage its balance sheet by prepaying certain DBS debt securities in full without penalty. The RSA also provides for the dismissal with prejudice of all litigation between the company and certain members of the ad hoc group. The transactions set forth in the RSA will afford the company greater financial flexibility and strategic optionality, including increased flexibility to engage in M&A transactions.

The White & Case team was led by Financial Restructuring and Insolvency partners Thomas Lauria (Miami), Matthew Linder (Chicago) and Laura Baccash (Chicago); Capital Markets partners Jonathan Michels (New York) and A.J. Ericksen (Houston); and M&A partners Michael Deyong and Daniel Dufner (both in New York). The team also included Capital Markets associate Elizabeth Mapelli (New York); Financial Restructuring and Insolvency associate David Kim (New York); M&A associates Dilara Erik and Isabelle James (both in New York); Debt Finance partner Binoy Dharia and associate Jessy Van Kooten (both in New York); Tax partner David Dreier (New York); and Litigation partners Glenn Kurtz and Josh Weedman (both in New York).

White & Case previously advised EchoStar on its entry into definitive agreements to sell spectrum licenses to AT&T and SpaceX for more than US$40 billion of total cash and SpaceX stock consideration in 2025; a series of transformative financing transactions in October 2024; and its merger with DISH Network in August 2023.

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