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.

A debt exchange key to DirecTV’s plans to merge with Dish is expected to fall short ahead of Tuesday deadline.

A group of EchoStar's Dish bondholders rejected a proposed debt-exchange offer from DirecTV that was contingent upon them accepting a "haircut" of $1.5 billion, a document viewed by Reuters on Monday showed.

DirecTV intends to terminate its planned acquisition of Dish Network Corp. in 10 days if bondholders don’t agree to a debt exchange.

DISH and DIRECTV came together to improve the initial debt swap offer to these bondholders, but they still aren’t onboard. All’s not well with the merger between DISH and DIRECTV. The two companies are working toward a deal that would see them combine into the largest pay-TV company in the United States,

A group of creditors associated with Echostar's pay television service Dish Network have rejected a bond exchange offer from the company. This article, Dish creditors reject bond exchange, raising questions about DirecTV acquisition,