Gray Media, Inc. (NYSE: GTN) buys back $100M 2029 and $20M 2031 notes
Rhea-AI Filing Summary
Gray Media, Inc. repurchased, in a privately negotiated transaction on July 21, 2026, $100 million aggregate principal amount of its 10.500% senior secured first lien notes due 2029 and $20 million aggregate principal amount of its 5.375% senior notes due 2031. Each tranche was bought at a purchase price of par plus accrued and unpaid interest to the date of repurchase.
The company funded these note repurchases using available liquidity, including cash on hand and borrowings under its existing revolving credit facility.
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8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
First lien notes repurchased: $100 million aggregate principal amount
Senior notes repurchased: $20 million aggregate principal amount
Coupon on 2029 first lien notes: 10.500%
+1 more
4 metrics
First lien notes repurchased
$100 million aggregate principal amount
10.500% senior secured first lien notes due 2029 repurchased on July 21, 2026
Senior notes repurchased
$20 million aggregate principal amount
5.375% senior notes due 2031 repurchased on July 21, 2026
Coupon on 2029 first lien notes
10.500%
Interest rate on senior secured first lien notes due 2029 that were repurchased
Coupon on 2031 senior notes
5.375%
Interest rate on senior notes due 2031 that were repurchased
Key Terms
senior secured first lien notes, aggregate principal amount, revolving credit facility, accrued and unpaid interest
4 terms
senior secured first lien notes financial
"the Company’s 10.500% senior secured first lien notes due 2029"
Senior secured first lien notes are debt securities that give holders top priority to be repaid and to seize specific collateral if the borrower defaults. Think of them like being first in line and holding the deed to a valuable asset — this higher claim usually means lower risk and lower interest than unsecured or subordinated debt. Investors care because these notes affect expected return, default recovery and relative safety within a company’s capital structure.
aggregate principal amount financial
"$100 million aggregate principal amount of the Company’s 10.500% notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
revolving credit facility financial
"borrowings under the Company’s existing revolving credit facility"
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
accrued and unpaid interest financial
"at a purchase price of par plus accrued and unpaid interest"
Accrued and unpaid interest is the interest that has built up on a loan or debt but hasn't been paid yet. It's like owing your friend money for a favor over time—you're expected to pay it later, even though you haven't paid it yet. This matters because it shows how much you owe beyond the original amount borrowed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What debt did Gray Media (GTN) repurchase on July 21, 2026?
Gray Media repurchased $100 million of 10.500% senior secured first lien notes due 2029 and $20 million of 5.375% senior notes due 2031 in privately negotiated transactions at par plus accrued interest.
What interest rates apply to the Gray Media (GTN) notes that were repurchased?
The repurchased first lien notes carried a 10.500% interest rate and were due 2029, while the repurchased senior notes carried a 5.375% interest rate and were due 2031, as specified in the company’s disclosure.
How did Gray Media (GTN) fund the repurchase of its 2029 and 2031 notes?
Gray Media funded the repurchases using available liquidity, which included cash on hand and borrowings under its existing revolving credit facility, rather than through a new securities issuance.
Were Gray Media’s (GTN) repurchases of 2029 and 2031 notes public market transactions?
No. Gray Media completed these repurchases of its 2029 and 2031 notes through privately negotiated transactions, rather than via open-market purchases or a tender offer.