Gray Media Prices $900 Mln Upsized Offering Of 9.625% Second Lien Notes Due 2032

(RTTNews) - Gray Media Inc. (GTN) announced the pricing of its private offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032. This represents an increase of $150 million over the amount previously announced. The Notes were priced at 100% of par.

The offering of the Notes is expected to close on July 18, 2025, subject to customary closing conditions.

The Notes are being offered, together with borrowings under Grays revolving credit facility, to redeem all of Grays outstanding 7.000% senior notes due 2027, repay a portion of Grays term loan F due June 4, 2029, and pay fees and expenses in connection with the offering.

The Notes will be guaranteed, jointly and severally, on a senior secured second lien basis, by each existing and future restricted subsidiary of Gray that guarantees Grays existing senior credit facility.