Gray Media, Inc: amends credit agreement, adds $600,000,000 term loan

What happened

• The filing says the company entered into a seventh amendment to its Fifth Amended and Restated Credit Agreement (the “Senior Credit Facility”) on Oct 8, 2026. The Seventh Amendment provides for a new $600,000,000 tranche G term loan (“Term Loan G”) and reduces and extends the revolving credit commitments. The filing also says the company issued a press release on Oct 8, 2026 announcing the closing of the Seventh Amendment.

Key details

• Term Loan G: $600,000,000 principal, matures Jul 15, 2030, with a springing earlier maturity to 91 days inside certain other debt maturities if more than $200,000,000 of those debts remain outstanding.
• Use of proceeds: Term Loan G proceeds repaid part of the existing Term D Loan maturing Dec 1, 2028, leaving $150,000,000 outstanding of Term D.
• Revolving credit facility: commitments reduced from $750,000,000 to $680,000,000 and maturity extended to Jul 15, 2030, subject to similar springing earlier maturity conditions.
• Pricing and fees: Term Loan G interest options are Term SOFR plus 3.50% or Base Rate plus 2.50%; quarterly principal reductions equal to 0.25% of the initial Term Loan G amount; revolver margins range from 1.75%–2.75% (Term SOFR) or 0.75%–1.75% (Base Rate); commitment fee on unused revolver of 0.250%–0.400% per annum.
• Security and covenants: obligations remain secured by substantially all assets (excluding real estate) of the company and certain domestic subsidiaries; guarantors and pledged ownership interests included; affirmative and negative covenants apply, including a consolidated first lien net leverage ratio test when revolver loans or certain letters of credit are outstanding. Wells Fargo Bank, National Association remains administrative agent.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement) and Item 2.03 (creation of a direct financial obligation) relating to the Seventh Amendment and Term Loan G, and Item 8.01 (other events) for the press release announcing the closing. The filing does not show why the company acted.