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Sinclair Borrows $3.725 Billion To Finance Tribune Deal
December 13, 2017 at 5:31 AM (PT)
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Loans
SINCLAIR BROADCAST GROUP's SINCLAIR TELEVISION GROUP, INC. subsidiary has raised the $3.725 billion in new incremental term B loans maturing in 2024 that it recently announced it was seeking (NET NEWS 11/27); the company has also amended some of the terms of its existing bank credit facility.
The proceeds from the loans will be used to pay for the acquisition of TRIBUNE MEDIA COMPANY and refinance some of TRIBUNE's existing debt, plus costs and expenses from the deal.
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