Gray Announces Revolving Credit Facility increase to $750 million and extension to 2028

Core Insights - Gray Media, Inc. has increased its revolving credit facility commitments by $50 million, bringing the total to $750 million, and extended the maturity date to December 1, 2028 [1][2] - The company has $700 million of undrawn availability under the revolving credit facility after repaying $402.5 million of its term loan F with proceeds from a $900 million offering of senior secured second lien notes [2] - Gray Media is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households, with a significant portfolio of top-rated stations [3] Financial Details - The company’s revolving credit facility now totals $750 million, with a maturity extension to December 1, 2028 [1] - Following the repayment of $402.5 million of Term Loan F, the outstanding balance is now $90 million [2] - The company has raised $900 million through the issuance of 9.625% senior secured second lien notes due 2032 [2] Company Overview - Gray Media, Inc. operates in 113 television markets and owns the largest Telemundo Affiliate group with 44 markets [3] - The company also includes Gray Digital Media, which provides advanced digital marketing strategies [3] - Additional media properties include video production companies and studio production facilities [3]