---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-004819"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-19T00:06:51.042253+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Gray Television enters $300M AR securitization facility, repays $295M Term Loan B

## Summary
- Entered three-year $300M revolving accounts receivable securitization facility with Wells Fargo Bank.
- Drew $300M under facility to prepay $295M outstanding Term Loan B under Senior Credit Facility on March 1, 2023.
- Facility interest at one-month SOFR plus 100 bps; includes customary covenants and termination events.
- SPV (Gray AR, LLC) is separate legal entity; assets not available to Gray creditors generally.
- No guarantee of collectability; Gray services receivables for a fee.

## SEC filing metadata
- accession: 0001437749-23-004819
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/0001437749-23-004819-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/gtn20230224_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-004819
- JSON: https://secwatch.observer/filing/0001437749-23-004819.json
- Plain text: https://secwatch.observer/filing/0001437749-23-004819.txt

## Key facts
- Debt Financings
  GRAY MEDIA, INC incurred revolving credit of $300 million with Wells Fargo Bank, N.A. at one-month Secured Overnight Financing Rate plus 100 basis points maturing three years.
  - Instrument: revolving credit
  - Principal: $300 million
  - Counterparty: Wells Fargo Bank, N.A.
  - Rate: one-month Secured Overnight Financing Rate plus 100 basis points
  - Maturity: three years
  - Event: incurrence
  source text: On February 23, 2023, Gray Television, Inc. (“Gray,” or the “Company”) and certain of its subsidiaries entered into a three-year $300 million revolving accounts receivable securitization facility (the “AR Facility”) with Wells Fargo Bank, N.A., as administrative agent (“Wells”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/0001437749-23-004819-index.htm
- Material Agreements
  GRAY MEDIA, INC entered into AR Facility with Wells Fargo Bank, N.A. valued at $300 million (effective 2023-02-23).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A.
  - Value: $300 million
  - Effective: 2023-02-23
  source text: On February 23, 2023, Gray Television, Inc. (“Gray,” or the “Company”) and certain of its subsidiaries entered into a three-year $300 million revolving accounts receivable securitization facility (the “AR Facility”) with Wells Fargo Bank, N.A., as administrative agent (“Wells”) for the purpose of providing additional liquidity in order to repay indebtedness under the Company’s Senior Credit Facility (the “Senior Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/0001437749-23-004819-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.