Telecom
Dish Network Nears Deal With Convertible Holders for New Money
- The company is holding talks with lenders to extend debt
- Potential deal calls for a debt exchange at below-par prices
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Dish Network Corp., the satellite-TV provider saddled with about $20 billion in debt, is close to striking a deal with some of its convertible bondholders that would give the company new financing and help it extend its debt maturities, according to people with knowledge of the situation.
The potential deal calls for a debt exchange at below-par prices for its convertible notes maturing in 2025 and 2026, said the people, who asked not to be identified discussing a private matter. The new money would be tied to wireless spectrum held at a so-called unrestricted subsidiary, and proceeds will be used to fund network expansion, they said.