Gray Media sells $250M 9.625% senior secured notes; to redeem $125M of 10.5% first lien notes

GRAY MEDIA, INC

Sold $250M aggregate principal of 9.625% Senior Secured Second Lien Notes due 2032 at 102% of par plus accrued interest.
Notes are an additional issuance to the existing $900M of same series (July 2025), forming a single series.
Net proceeds used to redeem $125M of 10.500% Senior Secured First Lien Notes due 2029 at 103% of principal (conditional redemption on Dec 19, 2025).
Closing expected December 12, 2025, subject to customary conditions.

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