Gray TV proposes $1.6B refinancing of 2026 debt; upsizes revolver to $680M

GRAY MEDIA, INC

Targeting $750M new term loans due 2029 and $750M additional senior secured debt.
Increasing revolver from $552.5M to $680M; terminating separate $72.5M revolver due 2026.
Refinancing covers $1.15B term loan due 2026 and up to $450M of 5.875% senior notes due 2026.
Process subject to market conditions; no assurance of completion.
Combined with Feb 2024 upsizing, revolver capacity raised to $680M by Dec 2027.

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