Sinclair enters debt recap with creditors; extends maturities to 2029/2030, reduces first-lien leverage

Sinclair, Inc.

TSA signed with 80% of term lenders and 75% of secured noteholders; includes new $650M revolver and backstop term loans.
$1.175B term loan B-2 to be repaid; $714M B-3 and $731M B-4 exchanged for second-out loans maturing 2029/2030.
Exchange offer for $246M of 4.125% secured notes into 4.375% second-out notes due 2032; non-consenting notes become unsecured.
Private repurchase of $59.3M secured notes at 84% and $104.2M unsecured at 97%; private exchange of $432M for 9.75% second lien notes due 2033.
Closest maturity pushed to Dec 2029; weighted average maturity 6.6 years; first lien net leverage materially reduced.

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