Dish Lenders Reject DirecTV Debt Deal as Deadline Arrives
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Dish Network Corp. creditors rejected the US satellite-television provider’s bond-exchange offer, as the deadline arrives for a debt deal that is key to the company’s proposed acquisition by rival DirecTV.
The steering committee of Dish lenders made its case to a wider group of bondholders on Monday, calling the deal one of the largest “engineered at the expense of creditors,” according to a letter seen by Bloomberg. They also reminded the investors of an obligation to stick together under a cooperation pact.