Published:
Tribune Signs Asset-Backed Commercial Paper Facility
CHICAGO, July 3 /PRNewswire/ -- 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.
TRIBUNE is America's largest employee-owned media company, operating
businesses in publishing, interactive and broadcasting. In publishing,
Tribune's leading daily newspapers include the Los Angeles Times, Chicago
Tribune, Newsday (Long Island, N.Y.), The Sun (Baltimore), South Florida
Sun-Sentinel, Orlando Sentinel, Hartford Courant, Morning Call and Daily
Press. The company's broadcasting group operates 23 television stations, WGN
America on national cable,Chicago's WGN-AM and the Chicago Cubs baseball
team. Popular news and information websites complement Tribune's print and
broadcast properties and extend the company's nationwide audience. At Tribune
we take what we do seriously and with a great deal of pride. We also value
the creative spirit and are nurturing a corporate culture that doesn't take
itself too seriously.
SOURCE Tribune Company
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Copyright © 2008, NewsBlaze,
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