September 22, 2010 (FinancialWire) — Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) said that its wholly-owned subsidiary, Sinclair Television Group, Inc., plans to offer around $250.0 million aggregate principal amount of senior unsecured notes.

The company said that the notes are expected to mature in 2018 and to be guaranteed by Sinclair and certain of Sinclair's subsidiaries.

Sinclair plans to use the net proceeds, together with available cash on hand and/or revolving debt, to repurchase all or a portion of STG's 8.0% senior subordinated notes due 2012 and Sinclair's 6% convertible subordinated debentures due 2012.

Any net proceeds not used for the repurchases would be used for general corporate purposes.

Maryland-based Sinclair Broadcast currently owns and operates, programs or provides sales services to 58 television stations in 35 markets.  

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