Tribune Turns To BofA, Merrill For $300M Credit Facility

Law360, Wilmington (July 27, 2012, 10:35 PM EDT) -- Looking to finance its imminent exit from bankruptcy, Tribune Co. asked a Delaware bankruptcy judge Friday to approve a payment of up to $225,000 to Bank of America NA and Merrill Lynch Pierce Fenner & Smith Inc. as the first step toward securing a proposed $300 million credit facility.

Tribune and its advisers have communicated with a number of financial institutions in recent weeks seeking to procure the most reasonable exit facility, the company said, and Bank of America and Merrill Lynch expressed interest in providing...
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