Sinclair Announces Assumption of Lender Obligations under, and Amendments to, Diamond Sports Accounts Receivable Securitization Facility

SINCLAIR ANNOUNCES ASSUMPTION OF LENDER OBLIGATIONS UNDER, AND AMENDMENTS TO, DIAMOND SPORTS ACCOUNTS RECEIVABLE SECURITIZATION FACILITY

BALTIMORE (November 8, 2021) – Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), (the “Company”) today announced that it has purchased and assumed the lenders’ and the administrative agent’s rights and obligations under the existing accounts receivable securitization facility (the “A/R Facility”) of its and Diamond Sports Group, LLC’s (“DSG”) indirect subsidiary, Diamond Sports Finance SPV, LLC (“Diamond SPV”). The Company purchased the lenders’ outstanding loans and commitments under the A/R Facility by making a payment to the lenders as consideration for the purchase of the lenders’ respective rights and obligations under the A/R Facility equal to approximately $184.4 million, representing 101% of the aggregate outstanding principal amount of the loans under the A/R Facility, plus any accrued interest and outstanding fees and expenses.

Read more…SBGI – Accounts Receivable Securitization Facility Press Release Final (002)

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