Gray Media, Inc. announced a private placement of $250 million of 9.625% senior secured second lien notes due 2032.
The Additional Notes will be part of the same issuance as the existing $900 million of 9.625% Senior Secured Second Lien Notes due 2032 issued in July 2025.
The Additional Notes will be issued at 102.000% of par plus accrued interest from July 18, 2025.
Private Placement Announcement
Gray Media, Inc. announced a private placement of $250 million of Additional 9.625% Senior Secured Second Lien Notes due 2032.
Use of Proceeds
The Additional Notes will be used to redeem a portion of the Company's outstanding 10.500% Senior Secured First Lien Notes due 2029, pay fees and expenses related to the Offering, and for general corporate purposes.
Offering Closure
The Offering is expected to close on December 12, 2025, subject to customary closing conditions.
- The Additional Notes will help in restructuring the Company's existing debts and improving its financial position.
- The private placement transaction reflects the Company's strategic approach to managing its capital structure and addressing financial obligations.
The private placement of Additional Notes signifies Gray Media, Inc.'s commitment to optimizing its capital mix and strengthening its financial standing for future growth opportunities.