Sinclair subsidiary completes $1.43B debt recapitalization with new notes and credit facilities

Sinclair, Inc.

Issued $1.43B of 8.125% First-Out First Lien Secured Notes due 2033; proceeds repay $1.175B TLB-2 and fees.
Established $575M first-out revolving credit facility with a 3.5x leverage maintenance covenant if >35% drawn.
Exchanged ~$267.2M of Existing 2030 Notes for new 4.375% Second-Out Notes due 2032; Supplemental Indenture eliminates most covenants.
Privately exchanged $432M of 2030 Notes for 9.750% Senior Secured Second Lien Notes due 2033.
Repurchased $63.6M of 2030 Notes at 84% and $104M of 5.125% 2027 Notes at 97% of principal, plus accrued interest.

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