Thursday, July 03, 2008
Tribune Signs Asset-backed Commercial Paper Facility
CHICAGO, July 3, 2008 -- 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.