CIT’s healthcare finance group arranged a $75 million senior secured asset-based credit facility for One Call Corporation, a Jacksonville, FL-based service provider to the workers’ compensation industry.
The U.S. Bankruptcy Court approved Chatham Asset Management’s purchase agreement with The McClatchy Company on Aug. 4. Chatham chose Tony Hunter to serve as CEO of McClatchy following its emergence from Chapter 11.
McClatchy filed an asset purchase agreement with the U.S. Bankruptcy Court, formalizing the details of Chatham Asset Management’s successful bid for ownership of McClatchy in the Chapter 11 sale process.
McClatchy completed a junior lien loan agreement with Chatham Asset Management for a total of $350.6 million. The publishing company also terminated its $65 million ABL facility with Bank of America and entered into a new $65 million ABL revolver with Wells Fargo.
McClatchy, a publishing company based in Sacramento, CA, entered into a term sheet framework agreement with Chatham Asset Management for a $250 million tranche A term loan facility and an approximately $168.5 million tranche B term loan facility.