secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2023-02-27T23:59:59+00:00
Accession:  0001437749-23-004819
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 8.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/0001437749-23-004819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774923004819/gtn20230224_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-004819

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