Tribune Gets Credit
May 18, 2007 at 7:53 AM (PT)
TRIBUNE CO. has arranged an agreement with lenders to provide $8.03 billion in credit to use for various purposes as the company goes private under SAM ZELL and an employee stock ownership plan. The credit deal includes term loan facilities of $1.5 billion and $5.52 billion, plus a $263 million delayed-draw loan facility and $750 million in revolving credit. The company may also borrow $2.11 billion in term loans and may also tap a $2.1 billion unsecured bridge facility. Some of the credit may be used as part of its 126 million-share stock buyback.
TRIBUNE owns Talk WGN-A/CHICAGO.