AT&T closes $23B spectrum acquisition from EchoStar; draws $14.5B in term loans

AT&T INC.

Acquired ~30 MHz of 3.45 GHz mid-band and ~20 MHz of 600 MHz low-band spectrum nationwide for ~$23B.
Financed with $11.5B two-year term loan and $3.0B 364-day term loan under existing $17.5B delayed draw facility.
AT&T reiterates financial outlook and capital allocation plan from Q2 2026 earnings release.
Spectrum boosts 5G capacity and download speeds, covering virtually every U.S. market.

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