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Sinclair Announces Supplement to Confidential Offering Memorandum, Offer to Exchange and Consent Solicitation Statement Relating to the Exchange Offer and Consent Solicitation of 4.375% Second-Out First Lien Secured Notes of Sinclair Television Group
BALTIMORE--(BUSINESS WIRE)-- Sinclair, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair”) today announced that Sinclair Television Group, Inc. (“STG” or the
About this update from Sinclair, Inc.
[{"type":"text","content":" BALTIMORE--(BUSINESS WIRE)--\nSinclair, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair”) today announced that Sinclair Television Group, Inc. (“STG” or the “Issuer”) has supplemented and amended the Confidential Offering Memorandum, Offer to Exchange and Consent Solicitation Statement, dated as of January 27, 2025 (the “Offering Memorandum”) with respect to the previously announced (i) private exchange offer (the “Exchange Offer”) to Eligible Holders (as defined below) of 4.375% Second-Out First Lien Secured Notes due 2032 (the “Exchange Second-Out Notes”) for any and all of the Issuer’s outstanding 4.125% Senior Secured Notes due 2030 (the “Existing Notes”) and (ii) the solicitation of consents (the “Consent Solicitation”) from Eligible Holders of the Existing Notes, pursuant to a supplement dated the date hereof (“Supplement No. 1”). Supplement No. 1 amends certain terms of the asset sale covenant and the definition of “Permitted Liens” that apply to the Exchange Second-Out Notes as further set forth in Supplement No. 1.\n\n\nExcept as otherwise described under “Amendments to Description of Exchange Second-Out Notes” in Supplement No. 1, the terms and conditions of the Exchange Offer and the Consent Solicitation set forth in the Offering Memorandum remain unchanged. Capitalized terms not defined herein shall have the respective meanings ascribed to them in the Offering Memorandum.\n\n\nImportant Information\n\n\nThe Exchange Offer and Consent Solicitation, including the Issuer’s acceptance of validly tendered Existing Notes and payment of the applicable consideration, is conditioned on the satisfaction or waiver of certain conditions precedent, including, but not limited to, the Transactions Condition, as further described in the Offering Memorandum. The Issuer may terminate, withdraw, amend or extend the Exchange Offer and/or Consent Solicitation in its sole discretion, subject to certain exceptions.\n\n\nThe Exchange Offer is being made, and the Exchange Second-Out Notes are being offered and issued, only to holders of Existing Notes who are reasonably believed to be (i) “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or (ii) not U.S. persons (as defined in Regulation S under the Securities Act) or purchasing for the account or benefit of U.S. per...