Encina Business Credit Provides DIP Financing to The McClatchy Company

Choate represented Encina Business Credit in its capacity as agent in connection with a $50 million debtor-in-possession financing to The McClatchy Company, one of the nation’s largest newspaper publishers. This financing will allow the company to maintain operations and keep its 30 newspapers, which include The Sacramento Bee, the Miami Herald and the Fort Worth Star-Telegram, afloat while it undergoes Chapter 11 bankruptcy proceedings.