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Gray Announces Closing of Offering of $250 Million of Additional 9.625% Senior Secured Second Lien Notes due 2032
ATLANTA, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) announced today that it has completed its previously announced offering of $250,000,000 aggregate principal amount of additional 9.625% senior secured second lien notes due 2032 (the “Additional Notes”) pursuant to Purchase Agreements, dated December 5, 2025 (the “Purchase Agreements”), by and among Gray, the guarantors party thereto and the purchasers named therein. The Additional Notes were issued at 102.000% of p
About this update from Gray Media, Inc.
[{"type":"image","alt":"Gray Media","displaySize":"","headline":null,"caption":"Gray Media","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":152,"url":"https://media.zenfs.com/en/globenewswire.com/b2372413b71855a83b4329968bf7a566"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nTuOjmKNc5WWdLs_eLb50A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIxMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/b2372413b71855a83b4329968bf7a566","width":300,"height":152}},"lazy":false},{"type":"text","content":" ATLANTA, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) announced today that it has completed its previously announced offering of $250,000,000 aggregate principal amount of additional 9.625% senior secured second lien notes due 2032 (the “Additional Notes”) pursuant to Purchase Agreements, dated December 5, 2025 (the “Purchase Agreements”), by and among Gray, the guarantors party thereto and the purchasers named therein. The Additional Notes were issued at 102.000% of par plus accrued interest from and including July 18, 2025. The Additional Notes are part of the same issuance of, and will rank equally and form a single series with, the $900,000,000 aggregate principal amount of Gray’s 9.625% senior secured second lien notes due 2032 that were issued on July 18, 2025 (the “Existing Notes,” and, together with the Additional Notes, the “Notes”).","length":903,"tagName":"p"},{"type":"text","content":"The net proceeds from the Additional Notes are being used (i) to redeem a portion of Gray’s 10.500% senior secured first lien notes due 2029, (ii) to pay fees and expenses in connection with the offering, and (iii) for general corporate purposes.","length":246,"tagName":"p"},{"type":"text","content":"The Notes are guaranteed, jointly and severally, on a senior secured second lien basis, by each existing and future restricted subsidiary of Gray that guarantees Gray’s existing senior credit facility.","length":201,"tagName":"p"},{"type":"text","content":"Interest on the Notes accrues from July 18, 2025 and is payable semiannually, on January 15 and July 15 of each year, commencing January 15, 2026. The Notes mature on July 15, 2032.","length":181,"tagName":"p"},{"type":"text","content":"The Notes and related guarantees have not been, and will not be, registered under the Securities Act of...