Daily News: November 28, 2012

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.

Previously on abfjournal.com:

Tribune Receives FFC Approval to Transfer Licenses, Tuesday, November 20, 2012