Contact: Chris Ripley, President & CEO
Lucy Rutishauser, SVP CFO
Sinclair to Raise Additional Term Loans and Amend Bank Credit Agreement
BALTIMORE (November 27, 2017) – Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), intends to raise new incremental term B loans and amend certain terms under its existing bank credit facility.
Sinclair is seeking $3.725 billion of new incremental term B loans, maturing in 2024. The proceeds from the term B loans 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 launch