Sinclair Broadcast’s Subsidiary to Amend and Extend Bank Credit Agreement

Sinclair Broadcast Group said Monday that its wholly-owned subsidiary, Sinclair Television Group, plans to amend certain terms and extend the maturity date of certain loans under its existing bank credit facility.

Sinclair is seeking to extend the maturity date of its term B loans from April 9, 2020 and July 31, 2021 to Jan. 2024. In connection with the extension, Sinclair is also seeking to add additional operating flexibility, including a reduction in certain pricing terms related to the loans and its existing revolving credit facility and revisions to certain covenant ratio requirements. Shares were down 5.3% in recent trading.

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