Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
04.27.22
Pillsbury represented Sinclair Television Group, Inc., a wholly-owned subsidiary of Sinclair Broadcast Group, Inc., which is one of the largest and most diversified television broadcasting companies in the country, obtaining a $750 million aggregate principal amount of new term loans maturing April 2029 and the extension of the maturity of $612.5 million of its revolving commitments to April 2027. The proceeds of the new term loans were used to refinance a portion of the company's existing term loans and to redeem the company's outstanding 5.875% senior notes due 2026.
This is the latest Sinclair transaction guided by Pillsbury, which also recently advised Sinclair on a series of transactions in connection with a debt restructuring of its regional sports network portfolio—the largest in the United States.
The Pillsbury team included Finance partner Joseph Fastiggi and associates Daniel Welch and Sacha Urbach, and Corporate partner Jeffrey Grill and associate Robert Shoemaker.