Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
12.11.20
Pillsbury advised Sinclair Television Group, Inc., a wholly-owned subsidiary of Sinclair Broadcast Group, Inc., a diversified television media company and leading provider of local sports and news, in connection with the Rule 144A/Reg S offering of $750 million aggregate principal amount of 4.125% Senior Secured Notes due in 2030. The net proceeds from the offering, along with cash on hand, were used to (i) redeem the Issuer’s $550 million of 5.625% Senior Notes due 2024 and (ii) to partially repay amounts outstanding under the Issuer’s term loan maturing Jan. 2024.
Pillsbury also advised Sinclair Television Group, Inc., in connection with an amendment to its existing credit agreement to, among other things, extend the maturity date of its revolving credit facility to Dec. 4, 2025.
The cross-office, multidisciplinary Pillsbury team included Corporate partner Jeffrey Grill and associates Ryan Brewer and Jessie Friend, and Finance partner Joseph Fastiggi, special counsel Heidi Spalholz, counsel Cecilia Wang and associates Marissa Prieto and Daniel Welch.