Gray Media launches $750M private notes offering
Gray Media announced a private offering of up to $750 million of senior secured first lien notes due 2034, intended to redeem a portion of its 2029 notes and reduce revolver borrowings, with a conditional redemption of about $675 million of the 2029 notes at closing. The notes are being sold exempt from registration to qualified institutional buyers and non-U.S. persons under Rule 144A and Regulation S, as Gray uses the proceeds to refinance debt and bolster its capital structure.
