Sinclair Broadcast Pays Down Debt

By Andrew Gauthier 

Baltimore Business Journal

Sinclair Broadcast Group Inc.
, the Hunt Valley television station owner and operator, said Thursday that its Sinclair Television Group subsidiary has refinanced part of its senior secured bank credit facility.

Sinclair Television Group used existing cash to pay down $35 million of a $305 million loan with JPMorgan Chase, Sinclair said in a Securities and Exchange Commission filing. That leaves a $270 million balance on the loan. The interest rate for the remaining $270 million balance was reduced by .5 percent, to LIBOR, the London Interbank Offered Rate, plus 4 percent. More…