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US publisher files for bankruptcy
Tuesday, December 13, 2011
Lee Enterprises, publisher of 48 different daily newspapers across the USA, filed for chapter 11 bankruptcy yesterday.
In September the company began restructuring its term first lien term loan of $689.5 million, along with a $40 million revolving credit facility.
Under the terms of the restructuring, the company was expected to complete a $175 million bond issue. However, it was not able to do so, and therefore entered a pre-packaged chapter 11 bankruptcy.
The company has secured a $40 million debtor-in-possession financing facility.
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CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
