Loan & DebtJul 21, 2026, 05:32 PM
Gray Media Repurchases $120M in Senior Notes
AI Summary
Gray Media, Inc. announced the repurchase of $120 million in senior notes through a privately negotiated transaction. The company repurchased $100 million of its 10.500% senior secured first lien notes due 2029 and $20 million of its 5.375% senior notes due 2031. The transaction was executed at par plus accrued and unpaid interest, utilizing available liquidity, including cash on hand and borrowings from its revolving credit facility.
Key Highlights
- Repurchased $100 million aggregate principal amount of 10.500% senior secured first lien notes due 2029.
- Repurchased $20 million aggregate principal amount of 5.375% senior notes due 2031.
- Total of $120 million in senior notes repurchased.
- Repurchase was conducted in a privately negotiated transaction at par plus accrued interest.
- Funding for the repurchase came from available liquidity, including cash on hand and existing revolving credit facility borrowings.
Price Impact
More from GTN