Financing ·
Gray Media closes $600M Term Loan G and extends revolving credit facility maturity to July 2030
GTNGray Media, Inc
Gray Media closed a new $600 million Term Loan G maturing July 15, 2030, priced at SOFR plus 3.50% with a 0.5% original issue discount. The company reduced its revolving credit facility from $750 million to $680 million and extended the maturity date to July 15, 2030. Proceeds were used to repay part of an existing Term Loan D, leaving $150 million outstanding, and pay fees. Combined with a recent $750 million note offering, Gray has extended over $1.25 billion in debt maturities and lowered borrowing costs, pushing its nearest material debt obligations until after the 2028 political cycles. Gray Media is the nation's largest owner of top-rated local television stations and digital assets.