Gray Television, Inc., the Atlanta-based company that's
buying KOLO-TV in Reno, last week completed the sale of
$100 million of senior subordinated notes at 9.25 percent.
The notes were issued at par.
Gray used the proceeds to repay $100 million of secured
loans.
Along with its $41.5 million purchase of KOLO, Gray
Television is paying $502.5 million to acquire 15 television
stations from Stations Holding Company, Inc. Gray has
said it would finance transactions with equity and debt
securities. The transactions are expected to close during the
fourth quarter.
