Tribune plans to pay down term loan with $1billion note offering

By Wendy Van Sickle

Columbus, Ohio, June 12 – Tribune Media Co. plans to pay down its term loan facility with proceeds from the sale of $1 billion of new unsecured senior notes, according to a Friday filing with the Securities and Exchange Commission.

In connection with the paydown, the company said it expects to amend its existing term loan to reduce the pricing of the loans made under the facility and amend certain covenants to be consistent with the terms of the notes.

The multimedia corporation is based in Chicago.

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