Daily News: May 29, 2014

Wells Fargo Securities, Others to Arrange Gray TV Facility

Gray Television announced that it 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 our existing senior secured credit facility.

Wells Fargo Securities, Merrill Lynch and RBC Capital Markets are the lead arrangers for Gray’s new senior credit facility.

Gray currently expects to close the new senior secured credit facility and close all of its material pending acquisitions on or before June 30, 2014.

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