Telecom
Dish Bondholders Set to Rebuff Firm’s Latest Debt Exchange Offer
- Investors call proposed $1.5 billion loss on swap unworkable
- They have previously offered to take a $300 million haircut
Bondholders have proposed a $300 million haircut and suggested there’s some flexibility beyond that.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Dish Network Corp. creditors plan to reject the US satellite-television provider’s revised bond-exchange offer, approval of which is needed for the company’s proposed acquisition by rival DirecTV to occur.
A group of steering committee investors don’t view the latest offer — which would lower the minimum losses on $8.9 billion of bonds by $70 million to $1.5 billion — as workable, according to people familiar with the matter who asked not to be named discussing private negotiations.