09:10 AM EDT, 07/08/2025 (MT Newswires) -- Gray Media ( GTN ) said Tuesday that it plans to offer up to $750 million worth of senior secured second lien notes due 2032.

In connection with the offering, Gray said it expects to increase commitments under its revolving credit facility by $50 million, bringing the total to $750 million, and extend the maturity date of its facility by a year to Dec. 1, 2028.

Gray said it intends to use the net proceeds from the offering, along with borrowings under its revolving credit facility, to redeem and pay down other debt.

Shares of the company were up more than 3% in recent premarket activity.

Price: 4.90, Change: +0.17, Percent Change: +3.59