Sinclair Broadcast Group (SBGI +0.1%) has launched its financing effort on its $9.6B acquisition of regional sports networks from Disney (DIS -0.2%).
Various units will raise about $8.9B in the deal: Overall, Diamond Sports Group and Diamond Sports Finance Co. will offer via private placement $2.55B in senior secured notes due 2026, and $2.325B in senior notes due 2027.
Wholly owned Diamond Sports Group will raise $3.3B in term B loans due 2026. Sinclair Television Group will raise $700B in incremental term B loans due 2026 and seek operating flexibility under its existing credit facility.
