AMERICAS DISTRESS DAILY: EchoStar Gets Boost From Spectrum Sale

EchoStar Corp. has agreed to sell spectrum licenses to AT&T Inc. for about $23 billion in a deal that may help the satellite telecommunications company stay afloat and fend off regulatory concerns about its airwave use.

• Bonds in the broader EchoStar universe rallied. Dish DBS bonds due 2029 soared more than 11 cents on the dollar to 82.5 cents, and were the biggest gainers in the US junk bond market, according to Trace pricing data.
• Federal regulators have been pushing EchoStar to sell some of its airwaves after concerns it had failed to put valuable slices of wireless spectrum ...