Sinclair Broadcast selling $300 million eight-year notes Thursday

By Paul A. Harris

Portland, Ore., Sept. 26 - Sinclair Television Group, Inc., a subsidiary of Sinclair Broadcast Group, Inc., plans to price a quick-to-market $300 million offering of eight-year senior notes (expected ratings B1/B) on Thursday, trailing a mid-morning investor conference call, according to a market source.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners. RBC Capital Markets and Wells Fargo Securities LLC are the co-managers.

The Rule 144A and Regulation S notes come with three years of call protection.

The Baltimore-based television broadcasting company plans to use the proceeds, along with proceeds from a proposed amendment to Sinclair Television's existing credit facility, and cash on hand, to fund the redemption of the Sinclair Television's 9¼% second-lien notes due 2017.

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