Gray Media completes $775 million private offering of Senior Secured First Lien Notes

Client(s) Gray Media, Inc.

Jones Day represented Gray Media, Inc., a multimedia company headquartered in Atlanta, Georgia that is the nation’s largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37% of U.S. television households, in connection with its private offering of $775 million aggregate principal amount of 7.250% Senior Secured First Lien Notes due 2033 (the “Notes”) under Rule 144A and Regulation S. The net proceeds of the Notes were used to repay a portion of its term loan D due 2028, repay a portion of its term loan F due 2029, repay all outstanding indebtedness drawn under its revolving credit facility, pay fees and expenses in connection with the offering, and for general corporate purposes.