Business Notes
Staff -- TWICE, 9/27/2004
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EchoStar Places $1 Billion In Senior Notes
Englewood, Calif. — Dish Network provider EchoStar Communications said its subsidiary, EchoStar DBS, has priced $1 billion aggregate principal amount of 10-year, 6.625-percent senior debt securities. Interest on the notes, maturing in 2014, will be paid twice each year, beginning in April of 2005. Proceeds of the offering are intended to redeem EchoStar DBS' 10.375-percent senior notes, due in 2007.
Energizer Increases Common Stock Repurchase Authorization
St. Louis — Battery maker Energizer Holdings has approved a new authorization for the company to acquire up to 10 million shares of its common stock. This authorization replaces a similar authorization to acquire up to 10 million shares, which was approved by its board last January, and under which about 7.7 million shares of stock have been repurchased.
U.S. Robotics Acquires Majority Stake In Company
Chicago — U.S. Robotics, a modem maker and provider of wireless and wired networking products for the home and small office, said its management team has acquired a majority ownership stake in the company from parent Solectron. Terms of the transaction were not disclosed. U.S. Robotics will retain current employees, including executive management, headed by Joseph Hartnett, president/CEO, and account management. The company's existing distribution channels will be used for all current and future products.
Solar Battery Manufacturer To Make Products For Sale In China
Canoga Park, Calif. — Solar battery maker Sunpower Systems has signed a $35 million deal with Chinese maker Chendu Putian to make solar cellular phone batteries for the domestic Chinese market. The batteries, which enhance cellular mobility by increasing talk time and standby time, will be made in the United States.
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