Gray Media closes $600 million term loan, extends revolver to 2030
GTN•Gray Media closed a $600 million term loan due July 15, 2030, and extended its revolving credit facility to the same date. The loan is priced at 350 basis points over SOFR, with a 0.5% original issue discount.
1. Loan and revolver terms
Gray Media used proceeds from Term Loan G to repay part of Term Loan D, which is due December 1, 2028, leaving $150 million outstanding. The revolving credit facility was reduced to $680 million from $750 million and now matures July 15, 2030. The company’s nearest listed maturities also include $350 million of notes due in July 2029.
