Gray Television (GTN) said late Tuesday that it priced a $900 million private offering of 9.625% senior secured second lien notes due 2032, $150 million more than previously planned.
The company said the notes were priced at 100% of par and are expected to close on July 18.
Proceeds, along with borrowings under Gray's revolving credit facility, will be used to redeem its outstanding 7% notes due 2027, repay part of its term loan F due 2029, and cover related fees and expenses, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.