Hughes Satellite’s Bond Plunges on Dish Merger Report (1)

A 2026 bond of Hughes Satellite Systems plunged in high-yield secondary trading on a report that its parent company, EchoStar is expected to be merged with Dish Network Corp. by Charlie Ergen.

Read more: Charlie Ergen Looking to Merge Dish and EchoStar, Semafor Says

• The company’s 6.625% bond due August 2026 fell 4.250 cents on the dollar to 89.750 cents, as of 2:13 p.m. New York time, according to Trace data
• Dish’s Chairman Charlie Ergen is said to be looking to merge two pieces of his telecom empire, Dish and EchoStar, to steer the company away from the declining satellite ...