Sinclair Extends And Amend Bank Credit Agreement

Sinclair Broadcast Group, Inc.

revealed that its fully-owned subsidiary, Sinclair Television Group, Inc., has received an extension of the maturity date of some loans apart from commitments under its existing bank credit facility until July 31, 2021. Sinclair unit indicated that it was able to get the extension of the maturity date of 80.3% of its pro rata commitments under its revolving credit facility, as well as, term A loans to July 31, 2021 from April 9, 2018. The company indicated that the amount comprised of $485.2 million in revolving credit commitments and $139.5 million of term loan A loans. According to the company, the remaining $153.5 million of outstanding term A loans would mature April 9, 2018. The company added that extending lenders have also agreed to a reduction in some pricing terms in connection with the Loans based on satisfying some covenant ratios. The stock shed 0.79 percent on Tuesday at the time of writing this.