Tribune Company to pay off some debt

As it continues in Chapter 11 bankruptcy reorganization, Tribune Company announced that it will pay back in full its $170 million loan facility led by Barclays Bank PLC as part of its debtor-in-possession (DIP) financing.

According to the company’s flagship Chicago Tribune, the loan is the largest portion of a total of $225 million in DIP financing. The loan being paid back was financed by Tribune Company’s receivables and the newspaper said it carried “an interest rate well above the market benchmark.”