AMERICAS DISTRESS DAILY: Dish Lenders Reject DirecTV Debt Deal

Dish Network Corp. creditors have rejected the US satellite-television provider’s bond-exchange offer on the eve of a deadline 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, 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.

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