Gray Media Closes $600M Term Loan G, Extends Revolver to 2030
GTN sits 41% above its 52-week low of $3.553.
Summary
Gray Media closed a $600 million Term Loan G and extended its revolving credit facility to July 2030, pushing out debt maturities and lowering borrowing costs.
Key Events · Financing and Capital Events · GTN
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Term Loan G Closed
Gray Media closed a new $600 million Term Loan G maturing July 15, 2030, priced at SOFR + 350 bps with a 0.5% original issue discount.
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Revolver Extended
The revolving credit facility was reduced from $750 million to $680 million and its maturity extended from December 1, 2028 to July 15, 2030.
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Term D Loan Reduced
Proceeds from Term Loan G repaid a portion of the existing Term D Loan, leaving $150 million outstanding versus $739 million previously.
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Maturity Wall Cleared
Following this refinancing and the August 2026 notes offering, Gray has no material debt maturities until after the 2026 and 2028 political cycles.
Analysis · GTN · Technology
Gray Media completed a debt refinancing that pushes its nearest material maturity to December 2028 and lowers borrowing costs. The new $600 million Term Loan G carries a 350 bps spread over SOFR, replacing a portion of the higher-cost Term D Loan and leaving only $150 million outstanding on that facility. The revolving credit facility was also extended by nearly two years to July 2030. Combined with the August 2026 notes offering, Gray has now extended over $1.25 billion of debt maturities, removing near-term refinancing risk through both the 2026 and 2028 political cycles.
How filings like this one have moved
In the 30 days to Oct 9, 2026, 28.8% of the 1682 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, GTN was trading at $5.01 on NYSE in the Technology sector, with a market capitalization of approximately $499.4M. The 52-week trading range was $3.55 to $6.44. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.