Gray Media, Inc. (GTN) announced the pricing of a $750 million private offering of senior secured first lien notes. The company intends to use the net proceeds to refinance existing higher-interest debt and repay outstanding borrowings under its credit facility.
Key Details
- Offering Size: $750 million aggregate principal amount of 7.500% senior secured first lien notes due 2034, priced at 100% of par.
- Use of Proceeds: To redeem a portion of the company's outstanding 10.500% senior notes due 2029, repay a portion of its revolving credit facility, and pay related fees.
- Timeline: The offering was priced on August 17, 2026, and is expected to close on August 21, 2026.