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Sinclair Announces Private Offering of Senior Secured Notes and Senior Notes of Diamond Sports Group
BALTIMORE (July 9, 2019) – In connection with its $9.6 billion pending and previously announced acquisition of a regional sports networks business (“RSN”) from The Walt Disney Company, Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its indirect wholly-owned subsidiaries, Diamond Sports Group, LLC (“Diamond”) and Diamond Sports Finance Company (the “Co-Issuer” and, together with Diamond Sports Group, the “Issuers”), intend to offer in a private placement, subject to market conditions and other factors, $2.550 billion aggregate principal amount of Senior Secured Notes due 2026 (the “Secured Notes”) and $2.325 billion aggregate principal amount of Senior Notes due 2027 (the “Senior Notes” and, together with the Secured Notes, the “Notes”). Diamond Sports Intermediate Holdings, LLC (“Holdings”), the Issuers’ direct parent, and all of Holdings’ direct and indirect wholly-owned domestic subsidiaries (other than the Issuers) will initially guarantee the Notes. Upon consummation of the RSN acquisition, all of Holdings’ direct and indirect wholly-owned domestic subsidiaries (other than the Issuers) that guarantee Diamond’s obligations under its senior credit facilities will guarantee the Notes.
Read more…SBGI – Bond July 2019 Launch PR
Sinclair Announces Private Offering of Senior Secured Notes and Senior Notes of Diamond Sports Group
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