Gray Media announces $150M debt redemption, and $75M loan increase
- Gray Media (GTN) said on Friday it increased its $600M term loan due 2030 by $75M, bringing the facility to $675M upon funding.
- The company plans to use the proceeds, along with cash on hand, to redeem $150M of its 10.5% senior secured notes due 2029.
- The notes are scheduled for redemption on Oct. 19 at 105.25% of principal, plus accrued and unpaid interest, subject to funding of the incremental term loan.
- Following the transactions, the company expects to have $200M in outstanding 2029 notes and $675M in term loans.
- Share: +1.26%
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