EchoStar Skipping $183 Million in Interest Payments; Shares Fall

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EchoStar shares drop 5.2% in extended trading after the provider of satellite broadband technology elected not to make about $183 million in cash interest payments due June 2 in light of uncertainty raised by an FCC review.

• Election to not pay made to allow time for the FCC to provide the relief requested in EchoStar’s FCC filing prior to the expiration of the 30-day default grace period, according to a statement
• Interest payments with respect to DISH DBS Corporation 5.25% secured notes due 2026, 5.75% secured notes due 2028, and 5.125% unsecured notes ...