Gray announces senior secured debt refinancing

By on May, 28 2014 with Comments 0

Gray TelevisionGray Television has commenced a senior secured debt refinancing, expected to consist of a $500 million term loan and a $50 million revolving credit facility.  The proceeds from this new senior secured credit facility will be used primarily to complete pending acquisitions and refinance amounts outstanding under its existing senior secured credit facility. Wells Fargo Securities, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets are the lead arrangers for Gray’s new senior credit facility. Gray currently expects to close the new senior secured credit facility and close all of its material pending acquisitions on or before 6/30/14.

About The Author: Carl has been with RBR-TVBR since 1997 and is currently Managing Director/Senior Editor. Residing in Northern Virginia, he covers the business of broadcasting, advertising, programming, new media and engineering. He’s also done a great deal of interviews for the company and handles our ever-growing stable of bylined columnists.

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