Contact: Lucy Rutishauser, SVP CFO
Sinclair Raises Additional Term Loans and Amends Bank Credit Agreement
BALTIMORE (December 12, 2017) – Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has raised new incremental term B loans and amended certain terms under its existing bank credit facility.
Sinclair raised $3.725 billion of new term B loans maturing 2024 and priced at LIBOR plus 2.50%. The proceeds from the term B loans, which will be drawn at closing, are expected to be used to purchase the outstanding shares of Tribune Media Company (“Tribune”), refinance certain of Tribune’s existing indebtedness, pay costs and expenses expected to be incurred in connection with the acquisition, and for general corporate purposes.
Read more…Bank November 2017 close