debt
confidence high
sentiment neutral
materiality 0.60
Gray Media launches $750M senior secured notes offering to refinance 2029 notes and revolver
GRAY MEDIA, INC
- Offering $750M aggregate principal of senior secured first lien notes due 2034, exempt from registration.
- Proceeds to redeem $675M of 10.500% 2029 notes, repay revolver borrowings, and pay fees.
- Conditional redemption of $675M 2029 notes at 105.250% plus accrued interest on Aug 27, 2026.
- Redemption conditioned on consummation of the new notes offering; notes guaranteed by restricted subsidiaries.
- Offered to QIBs under Rule 144A and non-U.S. persons under Regulation S.