FleetBoston Financial is in the market with a $180 million credit on behalf of radio and television broadcasting company, Liberman Broadcasting, and a $105 million telecom deal for Conversent Corporation, a Northeastern CLEC.
The Liberman credit was launched a little over a week ago and comprises a $15 million revolving credit priced at LIBOR plus 3 1/2 %, a $125 million term loan "A" priced at LIBOR plus 3 1/2 %, and a $40 million term loan "B" priced at LIBOR plus 4%. Union Bank of California has come into the deal as syndication agent.
The Conversent deal is expected to close in a couple of weeks and a banker said general syndication on the deal is complete. CIT Group and GE Capital are syndication and documentation agents, respectively. The deal comprises a $30 million revolver priced at LIBOR plus 4 1/2 % and a $75 million temr loan "A" also priced at LIBOR plus 4 1/2 %.