Sinclair Broadcast Group Inc. (NASDAQ: SBGI) is seeing a volume surge, as well as a toll surge, on its debt news. The ad-troubled company has reached a care to clear soured around $438 meg in convertible notes with new debt with a NGO representing whatever holders of convertible senior notes cod in May-2010 and January-2011. The company will clear most $0.90 to $0.935 per $1.00 by issuing new notes die in 2014 that are to be secured by a second lien on the assets which secure its bank credit facility. Average volume per period is only most 490,000, yet at 10:30 AM EST we have already seen 1.7 meg shares trade hands. Shares were up 34% at $2.89 at the instance stamp and the 52-week trading range is $0.85 to $7.66. Today’s volume will modify up existence the most active since its 3.95 meg shares on July 14 when shares fell by most 25% to $1.10. -JON OGG
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