Sinclair’s Diamond Sports redeems preferred units for $301.87 million

By Sarah Lizee

Olympia, Wash., Dec. 16 – Sinclair Broadcast Group, Inc. indirect subsidiary Diamond Sports Holdings LLC elected to redeem 300,000 of its preferred units for a total redemption price equal to $301,872,333, according to a press release.

The redemption price, which equals par plus accrued dividends up to but excluding the redemption date, was paid using cash dividends from Diamond Sports Group, LLC.

After giving effect to the partial redemption, 725,000 preferred units of Diamond Sports Holdings remain outstanding.

The preferred units are redeemable at par from Nov. 22 to Feb. 19. After that, they will be redeemable at an applicable call premium.

The television broadcasting company is based in Hunt Valley, Md.

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