Gray Media completes $900 million private offering of Senior Secured Second 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 $900 million aggregate principal amount of 9.625% Senior Secured Second Lien Notes due 2032 (the “Notes”) under Rule 144A and Regulation S. The net proceeds of the Notes were used, together with borrowings under its revolving credit facility, to redeem all of its outstanding 7.000% Senior Notes due 2027, repay a portion of its term loan F due 2029 and pay fees and expenses in connection with the offering.