Gray Media plans to use a larger loan and cash to redeem $150 million of notes due in 2029. The 2030 loan date gives more time, but added borrowing, fees, and a 5.25% redemption premium leave the company's outlook little changed.
The new loan is due in 2030, one year after the notes being redeemed. But Gray adds $75 million to the loan and pays a 5.25% premium, plus fees. The filing does not compare interest costs, so it does not show a clear financial gain.
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