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New Issue-Gray Television sells $300 mln notes

Mon Sep 24, 2012 5:32pm EDT 

Sept 24 (Reuters) - Gray Television Inc on Monday
sold $300 million of senior notes in the 144a private placement
market, said IFR, a Thomson Reuters service. 
    The size of the deal was increased from an originally
planned $250 million.
    Bank of America Merrill Lynch and Wells Fargo were the joint
bookrunning managers for the sale.

BORROWER: GRAY TELEVISION INC 

AMT $300 MLN    COUPON 7.5 PCT     MATURITY    10/01/2020
TYPE SR NTS     ISS PRICE 99.266   FIRST PAY   04/01/2013
MOODY'S Caa2    YIELD 7.625 PCT    SETTLEMENT  10/09/2012   
S&P CCC-PLUS    SPREAD 634 BPS     PAY FREQ    SEMI-ANNUAL
FITCH N/A       MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
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