(Bloomberg) -- Dish Network Corp., the satellite-TV provider saddled with about $20 billion in debt, is close to striking a deal with some of its convertible bondholders that would give the company new financing and help it extend its debt maturities, according to people with knowledge of the situation. 

The potential deal calls for a debt exchange at below-par prices for its convertible notes maturing in 2025 and 2026, said the people, who asked not to be identified discussing a private matter. The new money would be tied to wireless spectrum held at a so-called unrestricted subsidiary, and proceeds will be used to fund network expansion, they said. 

A deal could happen by the end of the month, but details are still being finalized, the people added. 

Messages left with Dish were not returned. A representative for company adviser Houlihan Lokey Inc. declined to comment while messages with Dish’s legal counsel White & Case were not returned.  

Charlie Ergen’s EchoStar Corp., the parent of Dish, has been combing for ways to tackle fast-approaching maturities as it attempts to transition from pay-TV to wireless services. In January, Dish announced a controversial maneuver that involved transferring its crown-jewel wireless spectrum licenses — among other assets — out of the reach of bondholders and into a new legal entity under EchoStar. The move spurred litigation, with creditors organizing into several groups. 

The company has since been holding discussions with various creditor groups, as well as third-party investors, to provide new financing, Bloomberg previously reported.

Its debt came under pressure this week after EchoStar said it failed to reach a deal with certain holders of its debt issued by Dish DBS. The company had entered into confidential talks with some debtholders regarding the extension of $2 billion of bonds coming due Nov. 15, Bloomberg previously reported. 

Dish’s 5.75% first-lien notes maturing in 2028 changed hands at 82.375 cents on the dollar, compared to 85.25 cents on Sept. 18, according to pricing source Trace. 

Dish has been in early merger talks with larger rival DirecTV, Bloomberg previously reported.

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