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 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.50%
4 Bank of America Merrill Lynch 41,657.82 137 7.41%
5 Credit Suisse 38,415.30 121 6.84%