Gray Announces $75 Million Incremental Term Loan and Redemption of $150 Million of 2029 Notes
Gray Media entered an incremental amendment to add $75 million to its $600 million Term Loan G due July 2030, available on a delayed-draw basis expected to fund on or prior to October 19, 2026. The proceeds, plus cash on hand, will fund the redemption of $150 million of 10.500% senior secured notes due 2029 at 105.250% of principal plus accrued interest.
Key figures
- Notes coupon
- 10.500%
- Notes redeemed
- $150 million
- Redemption date
- October 19, 2026
- Redemption price
- 105.250%
- Pro forma 2029 notes
- $200 million
- Term loan g existing
- $600 million
- Incremental term loan
- $75 million
- Pro forma term loan g
- $675 million
AI analysis
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