Gray Television Commences Proposed $1.6B Refinancing Process And Announces Further Increase To Its Revolving Credit Facility From $552.5M To $680M
Portfolio Pulse from Benzinga Newsdesk
Gray Television (NYSE: GTN) has announced a $1.6 billion refinancing process to extend its near-term debt maturities. The company plans to refinance its existing $1.15 billion term loan and $450 million senior notes with new senior secured term loans and additional senior secured debt. Additionally, Gray has increased its revolving credit facility from $552.5 million to $680 million.
May 15, 2024 | 8:53 pm
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Gray Television is undertaking a $1.6 billion refinancing process to extend its near-term debt maturities and has increased its revolving credit facility to $680 million.
The refinancing process and increased revolving credit facility indicate strong financial management and support from banking partners, which could positively impact investor sentiment and the stock price in the short term.
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