Sinclair TV Closes $400 Million Debt Offering

By on Aug, 30 2016 with Comments 0

Sinclair Television Group, a wholly owned subsidiary of Sinclair Broadcast Group, has closed its private debt offering of $400 million as part of a rollover.

Sinclair TV will use the proceeds of the sale of 5.125% senior unsecured notes due 2027 to redeem its 6.375% senior unsecured notes due 2021.

The company says the 5.125% Notes were priced at 100% of their par value and will bear interest at a rate of 5.125% per annum, payable on February 15 and August 15 of each year, starting in 2017.

There is $350 million in principal in the notes due 2021. Following a total redemption valued at $377.2 million, the remaining $22.8 million will go to general purposes. 

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