The Financial Post reports in its Thursday edition that Xplore, a Canadian high-speed Internet service provider, has struck a standstill agreement with creditors that gives the company until the end of March to arrange financing needed to shore up its balance sheet. A Bloomberg dispatch to the Post says that the deadline coincides with an interest payment due on its debt. The company will try to use the reprieve to stem a continued cash burn. The Stonepeak Partners-backed provider has been scouting options to raise around $400-million to bolster its books and finance an expansion of its network (all figures U.S.). It has considered raising new money through so-called drop-down transactions, which allow companies to raise capital by borrowing against transferred assets. Xplore's $995-million first-lien term loan that matures in 2028 is quoted at around 47.9 cents on the dollar, down from 60.375 cents on Jan. 23, while its $269-million second-lien loan due in 2029 is quoted at 23.875 cents.