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Sinclair Announces Launch of Regional Sports Network Acquisition Financing
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 subsidiary, Diamond Sports Group, LLC (“Diamond”), intends to raise $3.3 billion of term B loans due 2026 (the “RSN Term Loans”). Diamond Sports Intermediate Holdings, LLC (“Holdings”), Diamond’s direct parent, and all of Holdings’ direct and indirect wholly-owned domestic subsidiaries (other than Diamond) will initially guarantee the RSN Term Loans. In addition, Sinclair’s wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), intends to raise $700 million of incremental term B loans due 2026 (the “STG Term Loans”) and amend certain terms under its existing bank credit facility to introduce additional operating flexibility.
Read more…SBGI – Bank July 2019 Launch PR
Sinclair Announces Launch of Regional Sports Network Acquisition Financing
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