Diamond Sports Finance SPV has entered into a $250 million accounts receivable securitization facility.
The facility has a term of three years and enables the Sinclair Broadcast Group-controlled Diamond Sports Group indirect subsidiary to raise “incremental, low cost funding” by selling certain receivables on a revolving basis to Diamond SPV.
In turn, Diamond SPV will borrow money from third-party financial institutions.
Credit Suisse AG New York Branch is serving as the administrative agent and certain of its lending affiliates are lenders under the facility.
Guggenheim Securities LLC acted as the company’s financial advisor.