New Issue: Sinclair Broadcast $310 million 10-year notes yield 8¾%

By Paul A. Harris

St. Louis, Mo., Nov. 29 - Sinclair Broadcast Group, Inc. priced $310 million of senior subordinated notes due Dec. 15, 2011 (B2/B) Thursday at par for a yield of 8¾%, tighter than Wednesday's price talk of 8 7/8%-9%.

"There was large investor demand," a syndicate source commented.

Joint bookrunners were Deutsche Banc Alex. Brown, and J.P. Morgan, with co-managers Bear Stearns & Co., Lehman Brothers, Morgan Stanley and Scotia Capital.

Issuer:	Sinclair Broadcast Group, Inc.
Amount:	$310 million
Maturity:	Dec. 15, 2011
Type:	Senior subordinate notes
Bookrunners:	Deutsche Banc Alex. Brown, and J.P. Morgan
Coupon:	8¾%
Price:	Par
Yield:	8¾%
Spread:	388 basis points over the 5% Treasury due Aug., 2011
Call features:	Callable on Dec. 15, 2006 at 104.375, then at 102.917, 101.458,
	declining to par on Dec. 15, 2009 and thereafter
Equity clawback:	Three years for 25% at 108.75
Settlement date:	Dec. 10 (flat)
Ratings:	Moody's B2
	Standard & Poor's B
Cusip:	829226AG4
End

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