Gray television announces commencement of proposed $1.6 billion refinancing process and a further increase to its revolving credit facility

Atlanta, may 15, 2024 (globe newswire) -- gray television, inc. (“gray,” the “company,” “we,” or “our”) (nyse: gtn) announced today the commencement of a refinancing process for its existing $1.15 billion term loan due 2026 and up to $450 million of its 5.875% senior notes due 2026, with the goal of extending a significant portion of its near-term debt maturities.   overall, the company is targeting refinancing that outstanding debt with approximately $750 million of new senior secured term loans maturing in 2029 and approximately $750 million of additional senior secured debt, together with cash on hand and borrowings of approximately $100 million under its revolving credit facility due 2027.
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