Tribune Company announced today that it has signed a $300 million asset-backed commercial paper facility with Barclays Bank PLC. The facility allows Tribune to raise cash proceeds through the company’s outstanding trade receivables. Initially, Tribune borrowed $225 million under this facility; net proceeds were used to repay the company’s term loan X.
About Tribune Company
TRIBUNE is one of the country’s leading multimedia companies, operating businesses in publishing, digital and broadcasting. In publishing, Tribune’s leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The company’s broadcasting group operates 23 television stations, WGN America on national cable, the national multicast network Antenna TV and Chicago’s WGN-AM. Popular news and information websites complement Tribune’s print and broadcast properties and extend the company’s nationwide audience.