Sinclair Television Group, the subsidiary of Sinclair Broadcast Group (NASDAQ:SBGI), has raised new incremental term B loans for its purchase of Tribune Media (NYSE:TRCO), and amended some exiting credit terms.
The new term loans come to $3.725B maturing in 2024, priced at Libor plus 2.5%; those proceeds will be used to buy Tribune Media shares as well as pay costs in the deal and refinance some outstanding indebtedness.
Pro forma for the Tribune acquisition, afterward Sinclair will own, operate and/or service 233 stations in 108 markets.
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