Ferrell wraps syndication of $102 million loan

By Sara Rosenberg

New York, Feb. 8 - Ferrell Cos. Inc. closed the books and allocated its $102 million term loan, according to a market source.

The loan was marketed to a small group of existing lenders.

Credit Suisse First Boston is sole lead on the deal.

"It broke for trading. [There was] quiet syndication amongst existing lenders, so don't expect a ton of activity in it. People love the paper," the source said.

The term loan is priced with an interest rate of Libor plus 350 basis points after reverse flexing from Libor plus 375 basis points on Monday, the source added.

Proceeds will be used to refinance existing debt.

Ferrell is a Lakewood, Colo., designer, developer and installer of software systems for construction companies.

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