EchoStar Communications redeems 5.75% convertibles

By Jennifer Chiou

New York, Feb. 16 - EchoStar Communications Corp. said that holders of $15,000 of its $1 billion 5.75% convertible subordinated notes due 2008 opted to convert their notes prior to redemption.

The remaining $999.985 million of notes were redeemed on Thursday at a price equal to 101.643% of par, for a total of $1.016 billion.

Interest on the notes was paid through the redemption date.

U.S. Bank NA (800 934-6802) is the trustee for the notes.

EchoStar is based in Englewood, Calif., and provides television content through its DISH Network service. The company announced plans for the redemption on Jan. 16.

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