Sinclair Announces Conditional Redemption of 5.875% Notes
BALTIMORE (April 6, 2022) – 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 (“Trustee”) for its 5.875% Senior Notes due 2026 (CUSIP No. 829259AU4 / U8275QAG5 / 829259AV) (the “Notes”) that it intends to redeem, in full, STG’s outstanding $347.5million aggregate principal amount of Notes on April 21, 2022 (the “Redemption Date”). The redemption of the Notes is conditioned upon STG’s incurrence of new term loan financing generating gross proceeds of at least $750 million (or such lesser amount as may be incurred by the Company in its discretion so long as all or a portion of the proceeds of such financing are to be used to redeem the Notes) (the “Financing”).
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Sinclair Announces Conditional Redemption of 5.875% Notes
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