Tribune plans $250 million revolver draw

By Sara Rosenberg

New York, Oct. 17 - Tribune Co. sent a notice on Friday to draw $250 million under its existing $750 million senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission.

The company is borrowing under the revolver to increase its cash position to preserve its financial flexibility in light of the current uncertainty in the credit markets.

The outstanding balance of the revolver subsequent to the borrowing is about $348 million.

JPMorgan is the administrative agent on the deal.

Tribune is a Chicago-based media company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.