Sinclair Closes Refinancing and Extension of STG Credit score Amenities

BALTIMORE, April 21, 2022–(Business WIRE)–Sinclair Broadcast Group, Inc. (“Sinclair” or the “Firm”) (Nasdaq: SBGI) introduced nowadays that its wholly-owned subsidiary, Sinclair Television Team, Inc. (“STG”), has entered into the Fourth Amendment (“Fourth Amendment”) to its Seventh Amended and Restated Credit score Settlement, dated as of August 23, 2019, as amended with JPMorgan Chase Lender, N.A., as administrative agent, the guarantors social gathering thereto and the loan providers and other functions thereto, to, among other issues, supply for the incurrence of new time period loans in an mixture principal sum of $750 million (the “Term B-4 Loans”), refinance all outstanding expression B-1 financial loans and increase the maturity of $612.5 million of revolving commitments to April 21, 2027. The proceeds of the Time period B-4 Loans are getting made use of to refinance all of the present time period B-1 loans and to redeem STG’s exceptional 5.875% senior notes because of 2026. The Phrase B-4 Financial loans will mature on April 21, 2029 and will bear fascination, at the choice of STG, at Term SOFR moreover 3.75% (topic to customary credit rating spread changes) or at foundation price furthermore 2.75%.

This description of the Fourth Amendment is only a summary, and is competent in its entirety by reference to the complete modification, a copy of which will be filed these days with the Securities and Trade Fee (“SEC”) as an show to a Recent Report on Form 8-K.

Ahead-Wanting Statements:

The matters talked about in this news release contain forward-wanting statements pertaining to, among the other items, potential situations and steps. When made use of in this information launch, the text “outlook,” “intends to,” “thinks,” “anticipates,” “expects,” “achieves,” “estimates,” and very similar expressions are meant to recognize forward-searching statements. These types of statements are subject to a variety of pitfalls and uncertainties. Precise benefits in the upcoming could differ materially and adversely from those people explained in the forward-seeking statements as a result of numerous important things, such as and in addition to the assumptions established forth therein, but not confined to: the probable impacts of the COVID-19 pandemic on our business functions, economic effects and fiscal situation and on the earth financial state, which includes the significant disruption to the operations of the skilled sports leagues, need to have to offer rebates to our distributors related to canceled professional sporting events, and loss of promotion profits because of to postponement or cancellation of experienced sporting activities, and reduced client expending as a result of shelter in spot and keep at household orders our capability to make cash to assistance our sizeable indebtedness productive execution of outsourcing agreements the effective execution of retransmission consent agreements the successful execution of network affiliation and distribution agreements the profitable execution of media legal rights agreements with skilled athletics groups the affect of OTT and other rising systems and their potential effect on wire-cutting the affect of distributors giving “skinny” programming bundles that may perhaps not include all programming of our networks pricing and demand fluctuations in local and national promotion the effective implementation and client adoption of our sports activities direct to consumer platform volatility in programming charges the market acceptance of new programming our capability to establish and consummate acquisitions and investments, to manage amplified leverage ensuing from acquisitions and investments, and to achieve predicted returns on those investments when consummated the impact of pending and long run litigation claims towards the Business the ongoing evaluation of the October cybersecurity occasion, substance authorized, monetary and reputational dangers ensuing from a breach of the Company’s information and facts methods, and operational disruptions because of to the cybersecurity event the effect of FCC and other regulatory proceedings in opposition to the Organization, uncertainties associated with probable modifications in the regulatory ecosystem influencing our small business and expansion method and any danger variables set forth in the Company’s modern experiences on Type 10-Q and/or Type 10-K, as submitted with the Securities and Exchange Commission. There can be no assurances that the assumptions and other factors referred to in this release will arise. The Enterprise undertakes no obligation to publicly release the outcome of any revisions to these ahead-wanting statements except as demanded by legislation.

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Contacts

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