Gray Media Boosts Term Loan by $75 Million, Plans to Redeem $150 Million of Senior Notes

MT newswire2026/10/09 13:17

09:17 AM EDT, 10/09/2026 (MT Newswires) -- Gray Media (GTN) is increasing its $600 million term loan by $75 million in an incremental amendment to its credit agreement, the company said Friday. The incremental term loan will be available on a delayed draw basis upon the satisfaction of certain customary conditions that are expected to be satisfied on or before Oct. 19. Upon funding, it will have terms identical to, and be fungible with, the existing term loan due July 15, 2030, according to a statement. Gray Media said it intends to use the net proceeds from the term loan, together with cash on hand, to redeem $150 million of its 10.500% senior secured notes due 2029 and to pay related fees and expenses. The notes will be redeemed at 105.250% of the principal amount, plus accrued and unpaid interest to the redemption date. The company said it has issued a conditional notice of partial redemption to the note holders that it plans to redeem the notes on Oct. 19.

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