Sinclair Television to price $250 million eight-year notes on Tuesday

By Paul A. Harris

St. Louis, Sept. 20 - Sinclair Television Group, Inc. plans to price a $250 million offering of eight-year senior unsecured notes on Tuesday, according to market sources.

JP Morgan, Wells Fargo Securities and Citadel Capital are the joint bookrunners for the Rule 144A offering.

Proceeds, together with cash on hand and/or revolving debt, will be used to repurchase all or a portion of Sinclair Television Group's 8% senior subordinated notes due 2012 and Sinclair Broadcast Group's 6% convertible subordinated debentures due 2012, with any remaining proceeds for general corporate purposes.

The prospective issuer is a wholly owned subsidiary of Baltimore-based television broadcasting company.

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