Sinclair Broadcast Group priced the private placement of a quarter billion dollars of new notes it had announced.
Sinclair’s wholly owned subsidiary Sinclair Television Group Inc. priced the offering of senior unsecured notes due 2018 at 98.567% of their par value. They will bear interest at a rate of 8.375% per annum payable semi-annually on April 15 and October 15, commencing on April 15, 2011.
As announced, Sinclair intends to use the net proceeds from the offering to fund the tender offers for its 6% Convertible Subordinated Debentures due 2012 and 8% Senior Subordinated Notes due 2012.
