Contact: Chris Ripley, CFO
Lucy Rutishauser, SVP Corporate Finance & Treasurer
Sinclair Announces Redemption of 6.375% Senior Unsecured Notes
BALTIMORE (August 15, 2016) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) announced that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has notified the trustee for its 6.375% Senior Unsecured Notes due 2021 (CUSIP Nos. 829259AP5 and 829259AQ3) (the “Notes”) that it will redeem, in full, STG’s outstanding $350.0 million aggregate principal amount of Notes on August 30, 2016 (the “Redemption Date”). The redemption will be effected in accordance with the terms of the indenture governing the Notes and is conditioned upon the closing of STG’s proposed private offering of $350.0 million aggregate principal amount of senior unsecured notes announced today. The redemption price will be equal to the sum of 100% of the principal amount of Notes outstanding, a make-whole premium which will be calculated two business days prior to the Redemption Date in accordance with the terms of the indenture governing the Notes (currently estimated to be approximately 5.675%), and accrued and unpaid interest on the principal amount being redeemed up to, but not including, the Redemption Date.
Read more…Redemption August 2016_8-15-16