secwatch / observer
8-K filed July 18, 2025, 7:59 PM ET ticker GTN CIK 0000043196
debt confidence high sentiment neutral materiality 0.75

GRAY MEDIA, INC (GTN): debt financing — Gray Media issues $900M of 9.625% second lien notes due 2032; upsizes revolver to $750M

GRAY MEDIA, INC

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

GRAY MEDIA, INC incurred senior notes of $900,000,000 with U.S. Bank Trust Company, National Association at 9.625% maturing July 15, 2032.

Instrument
senior notes
Principal
$900,000,000
Counterparty
U.S. Bank Trust Company, National Association
Rate
9.625%
Maturity
July 15, 2032
Event
incurrence
Exact text from the filing
On July 18, 2025, Gray Media, Inc. (“ Gray ”, “ we ” or the “ Company ”) issued $900,000,000 in aggregate principal amount of its 9.625% Senior Secured Second Lien Notes due 2032 (the “ Notes ”) pursuant to an indenture, dated as of July 18, 2025, between Gray, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee and collateral agent (the “ Indenture ”).
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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.97

GRAY MEDIA, INC amended revolving credit of $750,000,000 aggregate commitments under Revolving Credit Facility (increased by $50 million) with Wells Fargo Bank, National Association at SOFR plus 1.75%-2.75% or Base Rate plus 0.75%-1.75% maturing December 1, 2028.

Instrument
revolving credit
Principal
$750,000,000 aggregate commitments under Revolving Credit Facility (increased by $50 million)
Counterparty
Wells Fargo Bank, National Association
Rate
SOFR plus 1.75%-2.75% or Base Rate plus 0.75%-1.75%
Maturity
December 1, 2028
Event
amendment
Exact text from the filing
On July 18, 2025, the Company entered into a fifth amendment (the “ Fifth Amendment ”) to its Fifth Amended and Restated Credit Agreement (as amended, including by the Fifth Amendment, the “ Senior Credit Facility ”), dated as of December 1, 2021, by and among the Company, the guarantors party thereto, Wells Fargo Bank, National Association (“ Wells Fargo ”), as administrative agent, and the other agents and lenders party thereto. The Fifth Amendment, among other things, (i) increases the aggregate commitments under the Revolving Credit Facility by $50 million, resulting in aggregate commitments under the Revolving Credit Facility of $750 million, and (ii) extends the maturity date of the Revolving Credit Facility from December 1, 2027 to December 1, 2028.
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GRAY MEDIA, INC filing history →

Source: SEC EDGAR
accession 0001437749-25-023021
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