Firm News: Cahill Represents Initial Purchasers in Gray Media’s $900 Million Notes Offering 07.18.2025

Cahill Represents Initial Purchasers in Gray Media's $900 Million Notes Offering

Date: 07/18/25

Cahill represented the initial purchasers in connection with a Rule 144A offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032 by Gray Media, Inc.

Proceeds from the offering were used, together with borrowings under Gray's revolving credit facility, to redeem all of Gray's outstanding 7.0% senior notes due 2027, repay a portion of Gray's term loan F due 2029 and pay fees and expenses in connection with the offering.

Gray Media, Inc. is the nation's largest owner of top-rated local television stations and digital assets in the United States.