Sinclair Television to redeem $70 million of 6% convertibles due 2012

By Toni Weeks

San Diego, Feb. 22 - Sinclair Broadcast Group, Inc. subsidiary Sinclair Television Group, Inc. intends to redeem the $70 million of 6% convertible debentures due 2012 currently outstanding, according to a news release.

Funds for the redemption will come from the company's refinancing of its $270 million tranche B term loan, which matures in October 2015.

Sinclair Broadcast is a Hunt Valley, Md.-based diversified television broadcasting company.

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