Gray Announces Closing of Term Loan and Revolving Credit Facility Refinancing

ATLANTA, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) announced today that it has closed a new $600 million Term Loan G maturing July 15, 2030 and has reduced its existing $750 million revolving credit facility to $680 million and extended the maturity date from December 1, 2028 to July 15, 2030. The Term Loan G was priced at a margin of 350 basis points over the Standard Overnight Financing Rate and issued with an original issue discount of 0.5%. The pricing grid on the extended revolving credit facility remains unchanged. Proceeds from the Term Loan G were used to repay a portion of Gray’s existing Term Loan D maturing December 1, 2028, leaving $150 million aggregate principal amount outstanding, and to pay related fees and expenses.

Together with the August 21, 2026 closing of Gray’s $750 million offering of 7.50% senior secured first lien notes due 2034, the proceeds of which were used to, among other items, repay $675 million of Gray’s 10.5% senior secured first lien notes due 2029 (the “2029 Notes”), the company has successfully extended maturities across an aggregate of over $1.25 billion of debt and lowered its overall borrowing costs, while also extending its revolving credit facility maturity.