First Union plans to launch into the market a bank meeting in Richmond, Va., on Nov. 2 a $500 million five-year revolving credit facility backing Markel Corp.'s recent acquisition activities.
Pricing on the facility starts at Libor plus 125 basis points, with adjustments available based on the borrower's senior unsecured debt rating.
Proceeds from the deal will also be used for the repayment of debt and general …
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