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Sinclair units close debt offering

Sinclair Broadcast Group Inc.'s indirect wholly owned subsidiaries Diamond Sports Group LLC and Diamond Sports Finance Company closed their previously announced private offering of $3.05 billion of senior secured notes due 2026 and $1.83 billion of senior notes due 2027.

The secured notes, which will mature Aug. 15, 2026, were priced at 100% of their face amount and will bear interest at a rate of 5.375% per annum payable semi-annually on Feb. 15 and Aug. 15, commencing Feb. 15, 2020, the company said Aug. 2. The senior notes, which will mature Aug. 15, 2027, were priced at 100% of their face amount and will bear interest at a rate of 6.625% per annum payable semi-annually, on Feb. 15 and Aug. 15, commencing Feb. 15, 2020.

Sinclair will use proceeds from the offering to fund its $9.6 billion acquisition of 21 regional sports networks and FOX College Sports (US) from Walt Disney Co.