(RTTNews) -  Sinclair Broadcast Group, Inc. (SBGI: News ) said its subsidiary, Sinclair Television Group, Inc. priced the private offering of senior secured second lien notes due 2017 at 97.264% of their par value. The interest will be at a rate of 9.25% per annum payable semi-annually on May 1 and November 1, commencing on May 1, 2010.

The offering was upsized to $500.0 million from the original $430.0 million.
Sinclair intends to use the net proceeds from the offering to fund the tender offers for Sinclair's 3% Senior Convertible Notes and 4.875% Senior Convertible Notes and to pay amounts under STG's senior secured bank credit facility.

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by RTT Staff Writer

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