The other lenders are AmSouth, Branch Banking and Trust(BB&T), Chevy Chase, Compass, Comerican, PNC and US Bank.
The competitive bid feature under the new facility has beenincreased by $10 million to $160 million, Colonial senior vicepresident Sandra Lee Robertson says in a prepared statement. Thenew financing package has a three-year term and a one-yearextension period.
The interest rate is the LIBOR plus a spread calculated from apricing grid based on the company's unsecured debt ratings. Basedon the company's current ratings, the interest rate pricing hasdecreased by 10 basis points to LIBOR, plus 105 basis points,according to the statement.
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