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United States : Sinclair Announces Private Offering of Senior Secured Notes and Senior Notes of Diamond Sports Group.

In connection with its $9.6 billion pending and previously announced acquisition of a regional sports networks business (RSN) from The Walt Disney Company, Sinclair Broadcast Group, Inc. (Sinclair or the Company) (Nasdaq: SBGI) announced today that its indirect wholly-owned subsidiaries, Diamond Sports Group, LLC (Diamond) and Diamond Sports Finance Company (the Co-Issuer and, together with Diamond Sports Group, the Issuers), intend to offer in a private placement, subject to market conditions and other factors, $2.550 billion aggregate principal amount of Senior Secured Notes due 2026 (the Secured Notes) and $2.325 billion aggregate principal amount of Senior Notes due 2027 (the Senior Notes and, together with the Secured Notes, the Notes).

Diamond Sports Intermediate Holdings, LLC (Holdings), the Issuers direct parent, and all of Holdings direct and indirect wholly-owned domestic subsidiaries (other than the Issuers) will initially guarantee the Notes. Upon consummation of the RSN acquisition, all of Holdings direct and indirect wholly-owned domestic subsidiaries (other than the Issuers) that guarantee Diamonds obligations under its senior credit facilities will guarantee the Notes.

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Publication:Mena Report
Date:Jul 13, 2019
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