Pillsbury advised 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, in connection with a $600 million incremental term loan. Net proceeds from the loan were used, together with cash on hand, to redeem in full STG’s 5.375% Senior Unsecured Notes due 2021.

The $600 million incremental term loan marks Pillsbury’s latest involvement in financings for Sinclair, including in connection with Sinclair’s pending $9.6 billion purchase of the largest collection of regional sports networks in the United States. Pillsbury also recently advised Sinclair on what has been reported as the largest U.S. high-yield bond deal since 2016.

The cross-office, multidisciplinary Pillsbury team included Finance partners Michael E. Michetti, Joel M. Simon and Joseph M. Fastiggi, special counsel Heidi Spalholz, senior associate Cecilia Wang and associates Marissa Prieto and Daniel Welch, and Corporate partner Jeffrey B. Grill and associates John C. C. Byrne, II, Ryan Brewer and Ella M. Lvov.