Gray Television Earlier Announced It Intends To Offer Up To $1B Aggregate Principal Amount Of Senior Secured First Lien Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Gray Television, Inc. (NYSE: GTN) announced plans to offer up to $1 billion in senior secured first lien notes due 2029, subject to market conditions. The offering is part of a broader Credit Agreement Refinancing, which includes a new $750 million term loan, an increase in its revolving credit facility by $55 million, and the termination of a $72.5 million tranche maturing in 2026. The completion of these financial moves is interdependent and subject to market conditions.
May 20, 2024 | 4:41 pm
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NEUTRAL IMPACT
Gray Television's announcement to offer $1 billion in senior secured notes and its Credit Agreement Refinancing plan could impact its credit profile and liquidity. The successful completion of these financial moves is subject to market conditions.
The offering and refinancing plan are significant financial moves that could affect Gray Television's credit profile and liquidity. However, the impact on the stock price in the short term is uncertain and depends on market conditions and the successful completion of these transactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100