Dish DBS sheds $4.4B in debt, exits Chapter 11

EchoStar-subsidiary Dish DBS cut its outstanding debt by more than $4 billion after emerging from Chapter 11 bankruptcy protection, according to a filing with the US Securities and Exchange Commission.

The reduction included debt restructuring, full repayment of Dish DBS’ 7.75% senior notes due 1 July 2026 and a partial early repayment of its 5.25% senior secured notes due 1 December 2026. The prepackaged Chapter 11 plan took effect yesterday (1 October).

Dish DBS and certain subsidiaries, including Dish Wireless and its subsidiaries, filed for Chapter 11 protection on 30 June 2026 in the US Bankruptcy Court for the Southern District of Texas under a plan largely agreed with creditors in advance.

The companies split the restructuring into separate plans for Dish DBS and Dish Wireless on 27 August. The court approved the Dish DBS plan on 29 September, and it took effect two days later.

Dish DBS and its guarantors also entered three supplemental indentures covering its notes. Wilmington Savings Fund Society serves as successor trustee, while US Bank Trust Company acts as collateral agent and trustee. EchoStar will file the agreements as exhibits to its next Form 10-Q.

Dish DBS was deconsolidated from EchoStar’s financial statements from 30 June 2026 due to the bankruptcy filing. EchoStar will consolidate the business again from 1 October following its exit from Chapter 11.

The restructuring implements terms of a support agreement EchoStar disclosed in March after negotiations with creditors. Dish Wireless remains in bankruptcy proceedings under a separate plan.