Sinclair Television Group has announced that it intends to amend and extend the existing term loan B-1 tranche under its credit agreement.
This, Sinclair says, includes the incurrence of new term loans in order to refinance such term loan B-1 tranche.
This tranche currently has a maturity date of January 3, 2024.
The goal for Sinclair is to reach new term loans which will provide for, among other things, a maturity date that is seven years after the effectiveness of the amendment.
Sinclair notes that this credit facility amendment is subject to market and other customary closing conditions.