Reported 6 months ago
Chatham Asset Management, a major creditor of Sinclair Inc., has advised the broadcaster to avoid aggressive refinancing deals that involve dividing lender collateral to meet upcoming maturities. The hedge fund supports a more 'traditional' refinancing approach for Sinclair's term loans, suggesting a public or private exchange of existing debt into junior instruments instead of complex maneuvers that could strain the company's existing debt and equity. This move is seen as a way to prevent further stress on lenders and maintain market confidence in Sinclair.
Source: YAHOO