Gray Media has increased the aggregate commitments under its revolving accounts receivable securitization facility (its “AR Facility”) by $100 million, resulting in aggregate commitments under this facility of up to $400 million.
At the same time, the broadcast TV station owner extended the maturity of the facility from February 23, 2026 to March 31, 2028.
Gray also announced right after Monday’s Closing Bell on Wall Street that it has increased the commitments under its revolving credit facility (the “Revolver”) by $20 million.
This results in aggregate commitments under the Revolving Credit Facility of $700 million.
Both the AR Facility and the Revolver are available on a revolving basis and, together, such amendments enhance Gray’s available liquidity by approximately $120 million, Gray said.
— Reporting by Adam R Jacobson
