EchoStar (SATS) cures DBS note interest while awaiting $20.25B AT&T deal

(Very High)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

EchoStar Corporation, through its subsidiary DISH DBS Corporation, has cured previously disclosed missed interest payments on its outstanding notes. On June 18, 2026, DBS paid the interest that was originally due June 1, 2026 on its 5.25% secured notes due 2026, 5.75% secured notes due 2028, and 5.125% unsecured notes due 2029, including accrued interest. These payments were made within the 30‑day grace periods, avoiding an Event of Default under the indentures governing the DBS notes. EchoStar had chosen to defer these payments to conserve liquidity while awaiting approximately $20.25 billion in net closing proceeds from its pending AT&T Transactions. The AT&T Transactions have received approvals from the FCC and DOJ, and no challenges to the FCC approval order were filed by the applicable deadline, though the FCC’s order is not yet final and closing remains subject to other conditions.

Positive

None.

Negative

EchoStar deferred scheduled interest on multiple DBS notes to conserve liquidity pending approximately $20.25 billion of AT&T transaction proceeds, highlighting reliance on a large, not-yet-closed deal for balance sheet support.

Insights

DBS cures missed interest within grace period, avoiding immediate default risk.

DISH DBS Corporation has paid the June 1, 2026 interest on its 2026, 2028 and 2029 notes by June 18, 2026, within contractual grace periods. This action prevents the non-payment from escalating into an Event of Default under the note indentures.

The filing reiterates that EchoStar previously deferred these payments to conserve liquidity while awaiting about $20.25 billion of net closing proceeds from the AT&T Transactions. That linkage underscores ongoing dependence on a large, yet-to-close transaction to support the balance sheet.

The AT&T Transactions have received FCC and DOJ approvals, and no review or reconsideration requests were filed against the FCC approval order, but the order is not yet final and other closing conditions remain. Actual credit impact hinges on the eventual closing of these transactions and future disclosures around liquidity management.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

DBS 2026 notes coupon: 5.25% secured notes DBS 2028 notes coupon: 5.75% secured notes DBS 2029 notes coupon: 5.125% unsecured notes +2 more

5 metrics

DBS 2026 notes coupon 5.25% secured notes Interest due June 1, 2026 paid June 18, 2026

DBS 2028 notes coupon 5.75% secured notes Interest due June 1, 2026 paid within grace period

DBS 2029 notes coupon 5.125% unsecured notes Interest due June 1, 2026 paid within grace period

AT&T Transactions net proceeds $20.25 billion Expected net closing proceeds referenced for liquidity

Grace period length 30 days Window before non-payment would become an Event of Default

Key Terms

Event of Default, indentures, grace periods, net closing proceeds, +2 more

6 terms

Event of Default financial

"before such non-payments would constitute an Event of Default (as defined in the relevant indentures"

An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.

indentures financial

"Event of Default (as defined in the relevant indentures governing such notes)"

Indentures are the written contracts that set out the terms and protections for a debt issue, such as a bond or note, including payment schedule, interest rate, collateral, and what happens if the borrower misses payments. Think of it like the rulebook and safety features for a loan that both the borrower and lenders agree to; investors use it to assess their rights, recoveries in trouble, and limits on the issuer’s future actions.

grace periods financial

"within the applicable 30-day grace periods to make such interest payments"

net closing proceeds financial

"pending the receipt of net closing proceeds of $20.25 billion from the AT&T Transactions"

FCC’s approval remains subject to the FCC’s order becoming final regulatory

"the FCC’s approval remains subject to the FCC’s order becoming final"

petitions for reconsideration regulatory

"No applications for review or petitions for reconsideration of the FCC approval order were filed"

FAQ

What did EchoStar (SATS) disclose about its DBS note interest payments?

EchoStar’s subsidiary DISH DBS Corporation paid interest originally due June 1, 2026 on its 2026, 2028 and 2029 notes on June 18, 2026. These payments were made within 30-day grace periods, preventing the non-payment from becoming an Event of Default under the indentures.

Which DBS notes were affected by EchoStar’s deferred interest payments?

The affected DBS notes were 5.25% secured notes due 2026, 5.75% secured notes due 2028, and 5.125% unsecured notes due 2029. Interest due June 1, 2026 on each series, plus interest on that amount, was paid on June 18, 2026 within contractual grace periods.

Why did EchoStar (SATS) initially elect not to pay interest on the due date?

EchoStar had elected not to pay the June 1, 2026 interest on the due date to defer liquidity utilization. It did so pending receipt of approximately $20.25 billion in net closing proceeds from its pending AT&T Transactions, which remain subject to closing conditions.

What is the status of EchoStar’s AT&T Transactions mentioned in the 8-K?

The AT&T Transactions have received approvals from the FCC and the DOJ. The FCC approval is still subject to its order becoming final, but no applications for review or petitions for reconsideration were filed by the deadline. Closing also depends on other specified conditions being satisfied or waived.

Did EchoStar’s delayed interest payments on DBS notes trigger an Event of Default?

No. DISH DBS Corporation made the required interest payments on June 18, 2026, within the applicable 30-day grace periods. By curing the non-payment within those periods, DBS avoided the non-payments constituting an Event of Default under the relevant note indentures.

How does the AT&T deal relate to EchoStar’s liquidity management?

EchoStar tied its earlier decision to defer interest to liquidity management while awaiting roughly $20.25 billion in net closing proceeds from the AT&T Transactions. The filing indicates DBS later chose to cure the non-payment under the indentures even though those transactions have not yet closed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Available on EDGAR 06/18/2026 - 08:13 PM Accepted by SEC EDGAR 06/18/2026 - 05:19 PM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 18, 2026 (June 17, 2026)

ECHOSTAR CORPORATION

(Exact name of registrant as specified in its charter)

001-33807
(Commission File Number)


Nevada		26-1232727
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

9601 South Meridian Boulevard
Englewood, Colorado		80112
(Address of principal executive offices)		(Zip code)

(303) 723-1000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, $0.001 par value	SATS	The Nasdaq Stock Market L.L.C.

HUGHES SATELLITE SYSTEMS CORPORATION

(Exact name of registrant as specified in its charter)

333-179121

(Commission File Number)


Colorado		45-0897865
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

9601 South Meridian Boulevard
Englewood, Colorado		80112
(Address of principal executive offices)		(Zip code)

(303) 723-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 8.01.	Other Events.

On June 17, 2026, EchoStar Corporation’s (“EchoStar” and, together with its subsidiaries, the “Company”) subsidiary, DISH DBS Corporation (“DBS”), notified the trustees for the 5.25% secured notes due 2026 (the “2026 Notes”), 5.75% secured notes due 2028 (the “2028 Notes”) and 5.125% unsecured notes due 2029 (the “2029 Notes, and collectively with the 2026 Notes and the 2028 Notes, the “DBS Notes”) issued by DBS, that, on June 18, 2026, DBS would make the scheduled interest payments originally due on June 1, 2026, including interest on such amount. Such payments are being made on June 18, 2026, within the applicable 30-day grace periods to make such interest payments before such non-payments would constitute an Event of Default (as defined in the relevant indentures governing such notes).

As previously disclosed, EchoStar elected not to make the interest payments on the due date to defer liquidity utilization pending the receipt of net closing proceeds of $20.25 billion from the AT&T Transactions (as defined in EchoStar’s SEC filings). The AT&T Transactions have received regulatory approvals from both the Federal Communications Commission (FCC) and the Department of Justice (DOJ); however, the FCC’s approval remains subject to the FCC’s order becoming final. No applications for review or petitions for reconsideration of the FCC approval order were filed by the deadline. Consummation of the AT&T Transactions remains subject to the satisfaction or waiver of certain other closing conditions as described in EchoStar’s Current Report on Form 8-K filed on August 26, 2025. Although the AT&T Transactions have not closed, and it is possible that such closing could be delayed, DBS has determined that it should in good faith cure the non-payment defaults under the indentures by making the interest payments.

Item 9.01. Financial Statements and Exhibits.


Exhibit No.	Description
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	ECHOSTAR CORPORATION HUGHES SATELLITE SYSTEMS CORPORATION
Date: June 18, 2026	By:	/s/ Dean A. Manson
		Dean A. Manson Chief Legal Officer and Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents