Sinclair Television to price $350 million 10.5-year notes on Monday

By Paul A. Harris

Portland, Ore., Aug. 15 – Sinclair Television Group, Inc. plans to price a $350 million offering of 10.5-year senior notes (expected ratings B1/B+) on Monday afternoon trailing a late-morning conference call with investors, according to a syndicate source.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S for life offering. J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., RBC Capital Markets, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch and MUFG are the joint bookrunners.

Mizuho Securities is the senior co-manager. Citizens Capital Markets, Lion Tree and Moelis & Co. LLC are the co-managers.

The notes, which will mature in 2027, become callable after five years at par plus 50% of the coupon.

The Hunt Valley, Md.-based television broadcasting company plans to use the proceeds to call its 6 3/8% senior notes due 2021.

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