Sinclair Broadcast Group announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc., will offer $500 million in senior unsecured notes. The notes are expected to mature in 2022.
Proceeds from the placement of the notes will fund Sinclair's acquisition of several Newport Television-owned stations and other pending acquisitions, to pay down outstanding indebtedness under STG's existing revolving credit facility, and possibly to issue a special dividend for Sinclair shareholders.
Sinclair owns and/or operates five television stations (KBSI in Cape Girardeau, Mo.; WDKA in Paducah, Ky.; and WZTV, WUXP and WNAB in Nashville, Tenn.) which can be seen in outlying portions of the Tri-State and communities immediately outside the area.
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