- Nov 29, 2003
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ca.finance.yahoo.com
At issue is a loan that TPG’s credit arm, TPG Angelo Gordon, agreed to provide to pay off some $2 billion in unsecured Dish notes due later this month, whether the deal goes through or not.
TPG wants to use collateral tied to Dish subscribers as extra backing for this loan, but the assets are currently tied to other Dish secured debt issued by its DBS unit. US Bank Trust, the collateral agent and trustee of the debt, is now asking holders for guidance on the proposed move, which would give TPG some claim to the collateral of the existing secured bonds, according to a notice viewed by Bloomberg News. It set a deadline for feedback of Nov. 4, just 11 days ahead of the maturity of the unsecured notes.
TPG Financing Tied to Dish-DirecTV Deal Creates New Wrinkle
(Bloomberg) -- A financing led by TPG Angelo Gordon amid the proposed tie-up between satellite pay-TV providers Dish Network and DirecTV is creating a fresh wrinkle in an already complicated and contentious deal process. Most Read from BloombergThere Will Soon Be No Meatpackers Left in NYC’s...
ca.finance.yahoo.com
At issue is a loan that TPG’s credit arm, TPG Angelo Gordon, agreed to provide to pay off some $2 billion in unsecured Dish notes due later this month, whether the deal goes through or not.
TPG wants to use collateral tied to Dish subscribers as extra backing for this loan, but the assets are currently tied to other Dish secured debt issued by its DBS unit. US Bank Trust, the collateral agent and trustee of the debt, is now asking holders for guidance on the proposed move, which would give TPG some claim to the collateral of the existing secured bonds, according to a notice viewed by Bloomberg News. It set a deadline for feedback of Nov. 4, just 11 days ahead of the maturity of the unsecured notes.
