Gray Television IncGTN
▼ NegativeCapitalrelevance
Pricing $750M of 7.5% notes due 2034 to refinance higher-cost debt; increases leverage and interest expense.
Impact on stocks 1
Communication Services
Gray Television IncGray Media priced a private offering of $750 million of 7.500% senior secured first-lien notes due 2034 at 100% of par. The offering is expected to close on Aug. 21, 2026, subject to customary closing conditions. The company plans to use the proceeds to redeem a portion of its 10.500% senior secured first-lien notes due 2029, repay part of its revolving credit facility borrowings, and cover fees and expenses related to the offering.
Gray Television IncPricing $750M of 7.5% notes due 2034 to refinance higher-cost debt; increases leverage and interest expense.