Echostar, the US entertainment group, underlined growing optimism that the high-yield bond market will rebound in 2002, selling its $700m (€780) of bonds ahead of schedule.

Echostar, which is using the proceeds to help pay for its acquisition of satellite business from General Motors, originally planned the bond sale for next year. But the company brought the sale forward in response to improved market conditions and also to capitalise on the recent investment in its stock by Vivendi, the French media group.