Gray Media issues $775M 7.25% senior secured notes due 2033; refinances term loans and revolver

GRAY MEDIA, INC

Issued $775M of 7.250% Senior Secured First Lien Notes due 2033 at par.
Net proceeds used to repay $630M of Term Loan D (balance now $739M), $80M of Term Loan F (balance $10M), and $50M revolving credit facility (undrawn availability now $750M).
Interest payable semiannually from Feb 15, 2026; callable after Aug 15, 2028 at specified redemption prices.
Notes guaranteed on senior secured first lien basis by existing and future restricted subsidiaries that guarantee Gray's senior credit facility.

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