Gray Television completes $1B financing |
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Tue, 20 Mar 2007 01:06
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ATLANTA (AP) - Gray Television Inc., an operator of 36 local TV stations, said Monday it completed the refinancing of its senior debt, a move that the company said would result in charges in the first and second quarters.Gray Television said the cost of refinancing the debt would range from $500,000 to $7 million in the first quarter and about $16.5 million in the second quarter. However, the company said the new financing of about $1.03 billion is projected to realize savings of $5 million to $6 million per year.Shares of Gray Television rose 25 cents to close at $8.77 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Gray Television plans new $1B facility 