Sinclair Set To Issue $430M In Senior Secured Notes

Law360, New York (October 13, 2009, 4:31 PM EDT) -- Sinclair Television Group, a subsidiary of Sinclair Broadcast Group Inc., intends to issue $430 million in senior secured second-lien notes due 2017, the company said Tuesday.

Placement of the notes is subject to the television group's successful amendment and refinancing of its existing secured bank credit facility. A second lien on the company assets that are currently securing that facility will be used to secure the new senior notes, the company said. The notes will be guaranteed by Sinclair and its subsidiaries.

Proceeds from the private...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.