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Stock impact report

Dish Lenders Reject DirecTV Debt Deal on Eve of Deadline [Yahoo! Finance Canada]

TPG Inc. - Class A (TPG) 
Most Read from Bloomberg The steering committee of Dish lenders made its case to a wider group of bondholders, 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. “This group has roundly and resolutely rejected the latest proposed exchange offer,” according to the letter. Milbank and Lazard, which are representing the creditor group, did not respond to requests for comment sent after business hours on Monday, and neither did a representative for Dish. A sweetened bond-exchange offer lowered the minimum losses on $8.9 billion of bonds by $70 million to $1.5 billion, and the acceptance deadline was extended to Nov. 12. Dish and DirecTV agreed to merge in late September to create the largest US pay-TV provider under the control of private equity firm TPG Inc., a move touted as a way for both to better compete in an inc Show less Read more
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