Eye Care Centers launches $135 million credit facility

By Sara Rosenberg

New York, Sept. 10 - Eye Care Centers of America Inc. launched a new $135 million credit facility on Tuesday, according to market sources. Bank of America and FleetBoston Financial Corp. are the lead banks on the deal.

The loan consists of a $35 million five-year revolver with an interest rate of Libor plus 400 basis points and a $100 million five-year term loan B with an interest rate of Libor plus 400 basis points, according to sources.

Proceeds will be used to refinance existing debt.

Eye Care Centers of America is a San Antonio, Tex. eyewear chain.

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