Dish Network 5% notes due 2023 are pegged at 100.5/101 in the secondary high-yield market today, against par issuance late on Wednesday via sole bookrunner Deutsche Bank, according to sources. Some recent trades were reported in the BB-/Ba2 paper at 100.625, though not publicly, as the offering came under Rule 144A, the sources add.

The $1.5 billion deal was upsized by $500 million amid heavy demand as the issuer made a surprise last-ditch effort to capture investor dollars before the uncertainties of the new year. Terms were inked at the wide end of talk, and offered about 40 bps to pari passu paper from the issuer due 2022, trade data show.

The company yesterday announced the deal at its typical issuing entity, DISH DBS Corporation. Proceeds will be used for general corporate purposes, which may include spectrum-related strategic transactions, according to a company statement.

Away from Dish, the secondary market appears rangebound, though activity is light. Other benchmarks are steady, such as EP Energy 9.375% notes due 2020, which are still trading at 112.5. Other new issues remain in demand, like U.S. Food 8.5% notes due 2019, which are 102/102.5 against a reopening at 101.5, according to sources. – Matt Fuller