BALTIMORE, Jan. 22 /PRNewswire-FirstCall/ -- Sinclair Broadcast Group,
Inc. (Nasdaq: SBGI) announced today that its wholly-owned subsidiary,
Sinclair Television Group ("STG") has redeemed, in full, the $307.4 million
aggregate principal amount of its 8.75% Senior Subordinated Notes due 2011
(the "2011 Notes"). The 2011 Notes were redeemed in accordance with the
terms of the indenture governing the 2011 Notes at a redemption price of
104.375% of the principal amount of the 2011 Notes plus accrued and unpaid
interest. The redemption of the 2011 Notes and payment of accrued interest
was funded from the net proceeds of STG's recently financed $225.0 million
Term Loan A-1, a drawdown of its revolving facility and available cash on
hand.
SOURCE Sinclair Broadcast Group, Inc.
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Related links:
http://www.sbgi.net
http://www.prnewswire.com/comp/110203.html /
CONTACT:
David Amy, EVP & Chief Financial Officer, or
Lucy Rutishauser, Treasurer, both of Sinclair Broadcast Group,
Inc., +1-410-568-1592
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