Telesat Creditors Propose C$3.2 Billion Rescue Deal to Avert Default
Telesat creditors proposed a C$3.2 billion (roughly $2.27 billion) deal to help repay an upcoming debt maturity and avert a default, according to people familiar with the matter.
People familiar with the matter said Telesat creditors have put forward a C$3.2 billion (roughly $2.27 billion) deal to help the company reduce debt coming due and avoid a default. A related headline said lenders proposed a C$2.3 billion rescue deal to avert a December default, published at 3:29 p.m. ET.