First Union Prints $180 Mln Newspaper Deal

  • 11 Mar 2001
Email a colleague
Request a PDF

First Union at a bank meeting last Thursday launched syndication of a $180 million senior secured credit on behalf of Quincy, Mass.-based Quincy Newspapers.Firstar Bank and Key Corporate Capital have committed to the facility as syndication and documentation agents, respectively. First Union officials said the facility comprises an $80 million revolver and a $100 million term loan. Pricing is expected at LIBOR plus 21Ž 2% and leverage is under 4.5x. Ralph Oakley, v.p. of Quincy, confirmed the structure of the deal and the arrangers, but would not elaborate further on any details surrounding the facility.

The facility will fund Quincy's acquisition of five television stations in Wisconsin from Northern Communications Acquisition Corp. Quincy is a diversified media company that participates in television, newspaper, and radio operations primarily in the Midwest.

  • 11 Mar 2001

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 128,786.28 373 11.20%
2 Bank of America Merrill Lynch 102,784.89 298 8.94%
3 JPMorgan 100,935.67 292 8.78%
4 Wells Fargo Securities 91,306.23 262 7.94%
5 Credit Suisse 75,962.58 202 6.61%