bank meeting last Thursday launched syndication of a $180 million
senior secured credit on behalf of Quincy, Mass.-based
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
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
The facility will fund Quincy's acquisition of
five television stations in Wisconsin from
Northern Communications Acquisition
Quincy is a diversified media
company that participates in television, newspaper, and radio
operations primarily in the Midwest.