The E.W. Scripps Company has successfully completed a series of previously announced refinancing transactions, significantly strengthening its balance sheet. These transactions included the exchange of existing 2026 term loans for new 2028 term loans and existing 2028 term loans for new 2029 term loans.
As a result of these transactions, no amounts remain outstanding on the prior 2026 and 2028 term loans, or the old revolving credit facility. The company now has a new term loan due 2028 with $545 million aggregate principal outstanding and a new term loan due 2029 with $340 million aggregate principal outstanding.
Additionally, Scripps replaced its prior revolving credit facility with a new $208 million facility maturing in July 2027 and a $70 million non-extended facility maturing in January 2026. A new three-year accounts receivable securitization facility with commitments up to $450 million was also established, with approximately $362 million drawn at closing to repay a portion of the 2026 term loan. These actions extend maturities and provide flexibility for key strategic initiatives.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.