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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (75696)5/24/2024 8:43:03 AM
From: Sean Collett1 Recommendation

Recommended By
E_K_S

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RE: GTN

I saw this and man oh man that 10.5% jumped out. Sign of things to come I guess for others needing to refinance during these trying times.

Gray paid out $440MM in interest expense last year and this isn't a pretty outcome. I suppose it is nice to see them take out the $700MM for those 2026 notes. The offering being for 2029 also doesn't really spread their debt out much as they will have some $4B in debt due from 2027-2030 now and then another $1.3B due in 2031 - lotta refinancing to come.

I hold them still for the political boost we should see this year. Just need to remind ourselves this is not a buy and hold but a cigar butt.

-Sean
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