Financing ·
Gray Media, Inc. issued $750 million in aggregate principal amount of 7.500% senior secured first lien notes due…
GTNGray Media, Inc
Gray Media, Inc. issued $750 million in aggregate principal amount of 7.500% senior secured first lien notes due September 15, 2034. The company intends to use the net proceeds to redeem $675 million of its outstanding 10.500% senior secured first lien notes due 2029, repay $21 million in revolving credit facility borrowings, and pay offering-related fees and expenses. Following the redemption, approximately $350 million of the 2029 Notes will remain outstanding. This refinancing activity is material as it alters the company's capital structure and debt maturity profile. Gray Media operates in the broadcasting industry, owning and operating television stations across the United States.