Financing ·
Gray Media increases Term Loan G by $75M to fund $150M redemption of 2029 Notes
GTNGray Media, Inc
Gray Media entered into an eighth amendment to its credit agreement, increasing the aggregate principal amount of its Term Loan G due July 15, 2030, by $75 million. The incremental term loan will be available on a delayed draw basis upon satisfaction of customary closing conditions expected by October 19, 2026. Concurrently, Gray issued a conditional notice to redeem $150 million of its 10.500% senior secured notes due 2029 at 105.250% of principal plus accrued interest on the same date. Proceeds from the new debt and cash on hand will fund the redemption and pay associated fees. Upon completion, Gray expects $675 million in Term Loan G and $200 million remaining in 2029 Notes outstanding. Gray Media is a multimedia company and the nation's largest owner of top-rated local television stations and digital assets.