Gray Media, Inc. completed an offering of $250 million of additional 9.625% senior secured second lien notes due 2032.
The net proceeds will be used for various purposes including redemption of existing notes and general corporate use.
The notes were issued as part of the same series as existing notes and were issued at 102.000% of par.
Offering Details
$250 million of 9.625% senior secured second lien notes due 2032 issued by Gray Media, Inc.
Use of Proceeds
Redemption of a portion of 10.500% senior secured first lien notes due 2029 and for general corporate purposes.
Payment Schedule
Interest payable semiannually on January 15 and July 15, with maturity on July 15, 2032.
- The successful offering indicates investor confidence in Gray Media, Inc.'s financial stability and growth prospects.
- Redemption of existing notes may lead to improved debt obligations and financial flexibility for the company.
The completion of the offering and the strategic use of proceeds position Gray Media, Inc. for future growth and financial stability in the coming years.