Gray Announces AR Securitization Facility increase to $400 million and extension to 2028 and Revolving Credit Facility increase to $700 million听
Gray Media (NYSE: GTN) has announced significant enhancements to its financing facilities. The company has increased its accounts receivable securitization facility (AR Facility) by $100 million to reach $400 million total commitments, extending its maturity from February 2026 to March 2028.
Additionally, Gray has expanded its revolving credit facility (Revolver) by $20 million, bringing the total commitments to $700 million. These combined amendments boost Gray's available liquidity by approximately $120 million.
Gray Media operates as the nation's largest owner of top-rated local television stations, serving 113 television markets reaching about 37% of US television households. The company maintains the top-rated television station in 78 markets and first/second highest-rated stations in 99 markets during 2024.
Gray Media (NYSE: GTN) ha annunciato significativi miglioramenti alle sue strutture di finanziamento. L'azienda ha aumentato la sua struttura di cartolarizzazione dei crediti (AR Facility) di 100 milioni di dollari, raggiungendo un totale di 400 milioni di dollari in impegni, estendendo la scadenza da febbraio 2026 a marzo 2028.
Inoltre, Gray ha ampliato la sua linea di credito revolving (Revolver) di 20 milioni di dollari, portando il totale degli impegni a 700 milioni di dollari. Queste modifiche combinate aumentano la liquidit脿 disponibile di Gray di circa 120 milioni di dollari.
Gray Media 猫 il pi霉 grande proprietario di stazioni televisive locali di alta qualit脿 negli Stati Uniti, servendo 113 mercati televisivi e raggiungendo circa il 37% delle famiglie statunitensi. L'azienda mantiene la stazione televisiva pi霉 apprezzata in 78 mercati e le stazioni con il primo e secondo punteggio pi霉 alto in 99 mercati nel 2024.
Gray Media (NYSE: GTN) ha anunciado mejoras significativas en sus instalaciones de financiamiento. La compa帽铆a ha incrementado su facilidad de titulizaci贸n de cuentas por cobrar (AR Facility) en 100 millones de d贸lares, alcanzando un total de 400 millones de d贸lares en compromisos, extendiendo su vencimiento de febrero de 2026 a marzo de 2028.
Adem谩s, Gray ha ampliado su l铆nea de cr茅dito revolvente (Revolver) en 20 millones de d贸lares, llevando el total de compromisos a 700 millones de d贸lares. Estas enmiendas combinadas aumentan la liquidez disponible de Gray en aproximadamente 120 millones de d贸lares.
Gray Media opera como el mayor propietario de estaciones de televisi贸n locales de alta calidad del pa铆s, sirviendo a 113 mercados televisivos y alcanzando aproximadamente el 37% de los hogares de televisi贸n en EE. UU. La compa帽铆a mantiene la estaci贸n de televisi贸n mejor valorada en 78 mercados y las estaciones con la primera y segunda calificaci贸n m谩s alta en 99 mercados durante 2024.
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Gray Media (NYSE: GTN) a annonc茅 des am茅liorations significatives de ses installations de financement. L'entreprise a augment茅 sa facilit茅 de titrisation des comptes clients (AR Facility) de 100 millions de dollars, atteignant un total de 400 millions de dollars d'engagements, prolongeant son 茅ch茅ance de f茅vrier 2026 脿 mars 2028.
De plus, Gray a 茅largi sa ligne de cr茅dit revolving (Revolver) de 20 millions de dollars, portant le total des engagements 脿 700 millions de dollars. Ces modifications combin茅es augmentent la liquidit茅 disponible de Gray d'environ 120 millions de dollars.
Gray Media est le plus grand propri茅taire de stations de t茅l茅vision locales hautement cot茅es du pays, desservant 113 march茅s t茅l茅visuels et atteignant environ 37 % des foyers am茅ricains. L'entreprise maintient la station de t茅l茅vision la mieux not茅e dans 78 march茅s et les stations les mieux not茅es en premi猫re et deuxi猫me position dans 99 march茅s en 2024.
Gray Media (NYSE: GTN) hat bedeutende Verbesserungen seiner Finanzierungsanlagen angek眉ndigt. Das Unternehmen hat seine Forderungsbesicherungsanlage (AR Facility) um 100 Millionen Dollar erh枚ht und erreicht damit insgesamt 400 Millionen Dollar an Verpflichtungen, wobei die F盲lligkeit von Februar 2026 auf M盲rz 2028 verl盲ngert wurde.
Dar眉ber hinaus hat Gray seine Revolvierende Kreditlinie (Revolver) um 20 Millionen Dollar erweitert, was die Gesamtverpflichtungen auf 700 Millionen Dollar erh枚ht. Diese kombinierten 脛nderungen erh枚hen die verf眉gbare Liquidit盲t von Gray um etwa 120 Millionen Dollar.
Gray Media ist der gr枚脽te Eigent眉mer von hochbewerteten lokalen Fernsehsendern im Land und bedient 113 Fernsehm盲rkte, die etwa 37% der US-Fernsehhaushalte erreichen. Das Unternehmen h盲lt die am besten bewertete Fernsehsender in 78 M盲rkten und die erst- und zweitbestbewerteten Sender in 99 M盲rkten im Jahr 2024.
- Increased available liquidity by $120 million through facility amendments
- Extended AR facility maturity by 2 years to 2028
- Expanded AR facility by $100 million to $400 million total
- Increased revolving credit facility by $20 million to $700 million
- Market leadership position with top-rated stations in 78 markets
- None.
Insights
Gray Media's expansion of its credit facilities represents a meaningful enhancement to its financial flexibility. The $100 million increase in the AR securitization facility to
The extension of the AR facility's maturity by two years to 2028 is particularly valuable as it reduces refinancing risk and creates a more stable long-term capital structure. For media companies operating in a rapidly evolving landscape, this type of financial cushion provides important operational stability.
The willingness of lenders to not only maintain but increase these facilities signals external confidence in Gray's financial health and business model. For a company that reaches approximately
While the announcement doesn't specify interest rates or other terms, the successful expansion and extension of these facilities during the current interest rate environment suggests Gray maintained reasonable borrowing costs while enhancing its financial position. This improved liquidity profile gives management more options to navigate industry challenges or pursue strategic opportunities.
ATLANTA, March 31, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (鈥淕ray鈥� or the 鈥淐ompany鈥�) (NYSE: GTN) today announced that it has increased the aggregate commitments under its revolving accounts receivable securitization facility (the 鈥淎R Facility鈥�) by
听 听 听 听 听 听 听 The Company also announced that it has increased the commitments under its revolving credit facility (the 鈥淩evolver鈥�) by
听 听 听 听 听 听 听 Both the AR Facility and the Revolver are available on a revolving basis and, together, such amendments enhance Gray鈥檚 available liquidity by approximately
About Gray:听
听 听 听 听 听 听 听 Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation鈥檚 largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray鈥檚 additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. For more information, please visit www.graymedia.com.
Gray Contacts:
Jeffrey R. Gignac, Executive Vice President, Chief Financial Officer, 404-504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333
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FAQ
How much did Gray Media (GTN) increase its AR securitization facility to in March 2025?
What is the new maturity date for Gray Media's (GTN) AR facility?
How much additional liquidity did Gray Media (GTN) secure through these facility amendments?
What is the new total commitment amount for Gray Media's (GTN) revolving credit facility?
How many US television markets does Gray Media (GTN) currently serve?
