Sinclair Broadcast Group bought back $8.6 million 6% convertibles, $8 million 8% notes

By Jennifer Chiou

New York, May 10 - Sinclair Broadcast Group Inc. repurchased $8.6 million of its 6% convertible debentures due 2012 and $8 million of its 8% senior subordinated notes due 2012 in the open market during the first quarter, according to a 10-Q filing with the Securities and Exchange Commission.

The company said it may redeem all of its 8% notes on or after March 15, 2007 at a redemption premium of 4.0%, reducing incrementally to 0.0% after March 15, 2010.

The Baltimore-based television broadcaster added that it may redeem all of its 8¾% senior subordinated notes due 2011 on or after Dec. 12, 2006 at a redemption premium of 4.375%, reducing incrementally to 0.0% after Dec. 12, 2009.

On Feb. 8, the company said it bought back $5 million of the 6% convertibles during the fourth quarter of 2005.

On Aug. 3, 2005, Sinclair said it repurchased $8 million of the 8% notes and $2.6 million of the 8¾% notes during the second quarter of 2005.

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