secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2025-07-18T23:59:59+00:00
Accession:  0001437749-25-023021
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Media issues $900M of 9.625% second lien notes due 2032; upsizes revolver to $750M
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- Issued $900M of 9.625% senior secured second lien notes due July 15, 2032 at par.
- Proceeds used to redeem all 7.000% senior notes due 2027 and repay $402.5M of term loan F.
- Revolving credit facility increased by $50M to $750M; maturity extended to Dec 1, 2028.
- Term loan F balance reduced to $90M; $700M undrawn revolver (excl. ~$8M letters of credit).
- Interest on new notes payable semiannually Jan 15/Jul 15, beginning Jan 15, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774925023021/0001437749-25-023021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774925023021/gtn20250717_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-023021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer