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Wells Fargo Securities, Others Arrange $550MM Facility for Gray Television

May 29, 2014, 07:06 AM
Filed Under: Media

Gray Television, Inc. has commenced a senior secured debt refinancing, expected to consist of a $500 million term loan and a $50 million revolving credit facility.  The proceeds from this new senior secured credit facility will be used primarily to complete pending acquisitions and refinance amounts outstanding under Gray's existing senior secured credit facility.

Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets are the lead arrangers for Gray's new senior credit facility. The broadcast company currently expects to close the new senior secured credit facility and close all of its material pending acquisitions on or before June 30, 2014.

Gray Television, Inc. is a television broadcast company headquartered in Atlanta, Georgia, that owns and/or operates television stations and leading digital assets in markets throughout the United States. 

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