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Gray Announces Closing of Offering of $900 Million of 9.625% Senior Secured Second Lien Notes due 2032
ATLANTA, July 18, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) announced today that it has completed its previously announced offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032 (the “Notes”). The Notes were issued at par. The net proceeds from the Notes are being used, together with borrowings under its revolving credit facility, to (i) redeem all of Gray’s outstanding 7.000% senior notes due 2027, (ii) repay a portion of Gra
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, July 18, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) announced today that it has completed its previously announced offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032 (the “Notes”). The Notes were issued at par.","length":292,"tagName":"p"},{"type":"text","content":"The net proceeds from the Notes are being used, together with borrowings under its revolving credit facility, to (i) redeem all of Gray’s outstanding 7.000% senior notes due 2027, (ii) repay a portion of Gray’s term loan F due June 4, 2029 (the “Term Loan F”), and (iii) pay fees and expenses in connection with the offering. The Company repaid $402.5 million of the Term Loan F with the net proceeds from the Notes, leaving an outstanding Term Loan F balance of $90 million.","length":487,"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 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. The Notes were offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S.","length":440,"tagName":"p"},{"t...