Davis Polk advised J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets, Inc. and Barclays Bank PLC as joint lead arrangers and bookrunners, and JPMorgan Chase Bank, N.A. as administrative agent, in connection with a $350 million senior secured term loan credit facility provided to Tribune Publishing Company in connection with its separation from Tribune Media Company (the “Spinoff”). The proceeds of the facility were used to (i) pay a $275 million cash dividend to Tribune Media Company in connection with the Spinoff, (ii) pay fees, costs and expenses incurred in connection with the financing transactions and (iii) finance general corporate purposes of Tribune Publishing Company and its subsidiaries. Davis Polk also advised JPMorgan Chase Bank, N.A., as letter of credit issuer, in connection with a $30 million cash-collateralized letter of credit facility.

Tribune Publishing Company is a diversified media company. Its leading newspapers include the Los Angeles Times, Chicago Tribune, Baltimore Sun and Sun Sentinel. Tribune Publishing Company’s portfolio also includes 60 digital properties and over 150 niche publications.

The Davis Polk financing team included partners Meyer C. Dworkin and James A. Florack and associates Jeong M. Oh, Scott M. Herrig and Lauren N. Katz. The tax team included partner Michael Farber and associate Adam B. Perry. Counsel James P. McIntyre provided real estate advice. Counsel Jeanine P. McGuinness and associate Britt Mosman provided advice regarding FCPA/OFAC issues.