Scripps Rises After Deal to Refinance Up to $1.3 Billion of Debt

E.W. Scripps shares surged 32% in extended trading after the company entered into a transaction support agreement with its lenders to refinance its debt.

• Deal includes a repayment or extension of up to $1.3b of term loans
  • Represents 70% of the aggregate principal amount of a B-2 term loan due May 2026 and a B-3 term loan due June 2028
• Agreement includes $450m in new commitment financings
  • Portion of proceeds will be used to repay existing loans
• Lenders to provide new $208m revolving credit facility due July 2027
• Transaction to provide runway liquidity to the company
• Deal expected to close ...