Gray Television says that in connection with its pending acquisition of Meredith Corp.’s TV stations, it wants to amend and restate its existing senior credit facility. Gray also updated some of its previously announced guidance for 3Q 2021.
Gray Plans $1.5B Loan, $500M Revolving Credit
Gray Television says that in connection with its pending acquisition of Meredith Corp.’s TV stations, it wants to amend and restate its existing senior credit facility. Gray also announced updates to certain of its previously announced guidance for the third quarter of 2021.
Gray wants to amend its Senior Credit Facility through some or all of the following, which would:
- Provide for an additional $1.5 billion seven-year incremental term loan under the Senior Credit Facility to finance, in part, the acquisition of Meredith LMG.
- Amend and restate certain terms of its revolving credit facility to increase borrowing capacity under the facility from $300 million to up to $500 million, which would consist of:
- A $425 million credit facility with five-year commitments.
- A $75 million credit facility with commitments expiring Jan. 2, 2026.
Comments (2)
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January 29, 2022 at 11:19 am
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