Gray Announces Closing of Term Loan and Revolving Credit Facility Refinancing
Gray Media closed a new $600 million Term Loan G maturing July 15, 2030, priced at SOFR plus 350 basis points with a 0.5% original issue discount. The company also reduced its revolver from $750 million to $680 million and extended its maturity to July 15, 2030; Term Loan G proceeds repaid most of the existing Term Loan D, leaving $150 million outstanding.
Key figures
- Notes rate
- 7.50% senior secured first lien notes due 2034 ($750 million, closed Aug 21, 2026)
- Revolver size
- reduced from $750 million to $680 million
- Term loan g oid
- 0.5%
- Term loan g size
- $600 million
- Repaid 2029 notes
- $675 million of 10.5% notes due 2029
- Term loan g margin
- SOFR + 350 bps
- Remaining 2029 notes
- $350 million due July 2029
- Term loan g maturity
- July 15, 2030
- Remaining term loan d
- $150 million due December 2028
- Debt maturities extended
- over $1.25 billion
- Revolver maturity extended to
- July 15, 2030
AI analysis
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