Gray Announces Private Offering of Senior Secured First Lien Notes
Gray Media intends to offer up to $750 million of senior secured first lien notes due 2034, subject to market conditions, in a private placement. The company plans to use the net proceeds to redeem a portion of its outstanding 10.500% senior secured first lien notes due 2029, repay borrowings under its revolving credit facility, and pay offering fees. The notes will be offered only to qualified institutional buyers under Rule 144A and non-U.S.
Key figures
- Deal Value Usd
- 750000000
- Target redemption
- 10.500% senior secured first lien notes due 2029
- New notes maturity
- 2034
AI analysis
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