FCC Says Dish Can’t Use $2.4 Billion 5G Trust to Pay Bondholders
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FCC Says Dish Can’t Use $2.4 Billion 5G Trust to Pay Bondholders
The Federal Communications Commission is narrowing an aspect of Dish Network’s proposed restructuring deal that the regulator said would have improperly repaid corporate bondholders from a $2.4 billion fund earmarked for contractors in the buildout of its 5G network.
The FCC trust was created and funded on July 28 with proceeds from the sale of Dish’s spectrum licenses to AT&T Inc. and SpaceX. Money in the fund is meant to compensate general contractors that helped build the wireless network “not those that provided EchoStar the funds to do so,” the FCC said.