HUNT VALLEY'S SINCLAIR

Broadcaster Sinclair in Talks With Lenders to Raise $1 Billion

By Reshmi Basu, BNN Bloomberg

Signage is displayed outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018. On Thursday, after months of intense scrutiny from regulators, progressive activists, elected politicians and media watchdog groups, Sinclair's long-pending deal to acquire Tribune Media Co. officially fell apart. Photographer: Andrew Harrer/Bloomberg (Andrew Harrer/Bloomberg)

(Bloomberg) -- Sinclair Inc. and some of its lenders are hashing out a proposal to raise more than $1 billion in new financing to pay down some of its debt, according to people familiar with the situation.

Under the proposal, the money it’s planning to borrow will likely be structured as super senior paper or debt that moves ahead in the repayment line, said the people, who asked not to be identified discussing a private matter. The new money is expected to refinance the $1.2 billion loan due 2026, they added. Lenders would also agree to extend the maturity of the $716 million loan maturing in 2028 and the $733 million one due in 2029 by two years each, the people said.

In return, credit documents would also be tightened, they said.

Negotiations are ongoing and FINISH READING HERE

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