JPMorgan, Others to Arrange Exit Financing for Tribune
Bloomberg reported that JPMorgan Chase, Bank of America, Credit Suisse Group, Citigroup and Deutsche Bank are preparing to provide $1.4 billion in exit financing to Tribune. The financing consists of a five-year $300 million asset-based revolving line of credit and a seven-year $1.1 billion term loan B.
Proceeds will be used by the company for its emergence from bankruptcy protection.
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