Sinclair to Seek Partial Amendment and Extension of STG Credit Facilities
BALTIMORE (April 6, 2022) – Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), intends to enter into an amendment (the “Amendment”) to its credit agreement to provide for, among other things, the incurrence of new term loans in order to refinance the outstanding term loan B-1 tranche under its credit agreement (which currently has a maturity date of January 3, 2024) with new term loans which will provide for a maturity date that is seven years after the effectiveness of the Amendment and to redeem its outstanding 5.875% senior notes due 2026 (the “5.875% Notes”). The Amendment will also extend the maturity date of its revolving credit facility to the date that is five years after the effectiveness of the Amendment.
The Amendment is subject to market and other customary closing conditions.
Read more…2022 Bank Facility Launch PR_FINAL
Sinclair to Seek Partial Amendment and Extension of STG Credit Facilities
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