Document:

<PAGE>

                                                                    Exhibit 10.2

                                                                  EXECUTION COPY

      Amendment No. 2 dated as of February 22, 2000 (this "AMENDMENT") among
Radio Unica Corp., a Delaware corporation (the '`BORROWEX'), Radio Unica
Communications Corp., a Delaware corporation (the "PARENT") formerly known as
Radio IJnica Holdings Corp., the several banks and other financial institutions
(the "'LENDERS'") from time to time parties to the Credit Agreement (as defined
below), and Canadian Imperial Bank of Commerce, as issuer of certain letters of
credit (the "ISSUER") and as agent for the Lenders thereunder (in such capacity,
the "AGENT").

                                   WITNESSETH

      WHEREAS, the Borrower, the Parent, the Lenders, the Agent and the Issuer
are parties to the Credit Agreement dated as of July 8, 1998 (such agreement, as
amended by Amendment No. 1, dated as of October 15, 1999, the "CREDIT
AGREEMENT"; terms defined in the Credit Agreement are used herein as defined
therein);

      WHEREAS, the Borrower has requested that certain amendments be made to the
Credit Agreement;

      WHEREAS, the parties desire to amend the Credit Agreement;

      NOW THEREFORE, in consideration of the premises contained herein and other
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

      SECTION 1. AMENDMENT. Section 5.1 of the Credit Agreement is hereby
amended as follows:

            5.l. FINANCIAL STATEMENTS. Furnish to each Lender:

            (a) as soon as available, but in any event within 1 OS days after
      the end of each fiscal year of the Loan Parties, a copy of the
      consolidated balance sheet of the Loan Parties as at the end of such year
      and the related statements of income, stockholders' equity and cash flows
      for such year, setting forth in each case in comparative form the figures
      as of the end of and for the previous year, reported on without a "going
      concern" or like qualification or exception, or qualification arising out
      of the scope of the audit., by Ernst 8e Young or another "big six" firm of
      independent certified public accountants, together with consolidating
      statements of income (consolidated by radio station and network);

            (b) as soon as available, but in any event not later than 50 days
      after the end of each quarterly period for each FISCAL quarter of each
      fiscal year of the Loan Parties, the unaudited consolidated balance sheet
      of the Loan Parties as at the end of such quarter and the related
      unaudited statements of income, stockholders equity and cash flows of the
      Loan Parties for such quarter and the portion of the fiscal year through
      the end of such quarter and setting forth in each case in comparative form
      the figures from

<PAGE>

      the budget for such fiscal year furnished to the Lenders pursuant to
      SECTION 5.2(d) and the actual figures for the corresponding date or period
      in the previous year, together with consolidated statements OF income and
      cash flows of the Loan Parties, certified by a Responsible Officer as
      being fairly stated in all material respects (subject to normal year end
      audit adjustments); and

            (c) as soon as available, but in any event not later than 45 days
      after the end of each calendar month, the regularly prepared unaudited
      income statements of the Loan Parties as of the end of such month and the
      portion of the fiscal year through the end of such month, setting forth in
      each case in comparative form THE figures for the comparable period from
      the budget for such fiscal year furnished to the Lenders pursuant to
      SECTION 5.2(d) and the actual figures for the corresponding date or period
      in the previous year, certified by a Responsible Officer as being fairly
      stated in all material respects (subject to normal year-end audit
      adjustments), together with consolidating statements of income and
      consolidated statements of income and cash flows of the Loan Parties;

      all such financial statements shall be complete and correct in all
      material respects and shall be prepared in reasonable detail and in
      accordance with GAAP applied consistently throughout the periods reflected
      therein and with prior periods (except as approved by such accountants or
      officer, as the case may be, and disclosed therein).

      SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE PARENT AND THE BORROWER.
Each of the Parent and the Borrower represents and warrants that, as of the date
hereof after giving effect to this Amendment, all the representations and
warranties of the Parent, the Borrower and each Loan Party in or pursuant to any
Loan Document shall be true and correct in all material respects on and as of
such date as if made on and as of such date-

      SECTION 3. CONDITIONS TO EFFECTIVENESS. This Amendment shall be effective
when (a) the Agent shall have received:

                  (i) counterparts hereof executed by duly authorized officers
      of the Borrower, the Parent and by duly authorized signatories of
      the Lenders; and

                  (ii) such other documents and certificates as the Agent may
      request; and

      (b) all fees and expenses due and owing to the Agent or any Lender
(including, without limitation, any reasonable fees and expenses of counsel to
the Agent) shall have been paid.

      SECTION 4. REFERENCE TO AND EFFECT IN THE LOAN DOCUMENTS. (a) Upon the
Effective Date, each reference in the Credit Agreement to "this Agreement",
"her. eunder", "hereof" or words of like import referring to the Credit
Agreement, and each reference in the other Loan Documents to "the Credit
Agreement", "thereunder", "thereof" or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended hereby.

                                        2

<PAGE>

      (b) Except as specifically amended above, the Credit Agreement and all
other Loan Documents are and shall continue to be in full force and effect and
are hereby in all respects ratified and confirmed. Without limiting the
generality of the foregoing, the Loan Documents and all the Collateral described
therein do and shall continue to secure the payment of all obligations of the
Borrower under the Credit Agreement, the Notes and the other Loan Documents, in
each case as amended hereby.

      (c) The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of any Lender or the Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.

      SECTION 5.  EXECUTION IN COUNTERPARTS. This Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to
be an original and all of which taken together shall constitute but one and
the same agreement.

      SECTION 6. GOVERNING LAW. This Amendment shall be governed by, and
construed in accordance with, the laws of the State of New York.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

                                        3
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caud this Amendment to be
executed as of the date first above written.

                                  RADIO UNICA COMMUNICATIONS CORP.
                                  f/k/a Radio Unica Holdings Corp.

                                  By: /s/ Steven E. Dawson
                                     -----------------------------
                                     Name:  Steven E. Dawson
                                     Title: EVP/CFO

                                  RADIO UNICA CORP.

                                  By: /s/ Steven E. Dawson
                                     -----------------------------
                                     Name:   Steven E. Dawson
                                     Title:  EVP/CFO

                                  CANADIAN IMPERIAL, BANK OF
                                  COMMERCE, as Agent

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  LENDERS:

                                  CIBC INC.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                              4

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caud this Amendment to be
executed as of the date first above written.

                                  RADIO UNICA COMMUNICATIONS CORP.
                                  f/k/a Radio Unica Holdings Corp.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  RADIO UNICA CORP.

                                  By:
                                     -----------------------------
                                     Name:
                                     Title:

                                  CANADIAN IMPERIAL, BANK OF
                                  COMMERCE, as Agent

                                  By: /s/ Colleen Risorto
                                     -----------------------------
                                     Name:  Colleen Risorto
                                     Title: Executive Director
                                            CIBC World Markets Corp. As Agent

                                  LENDERS:

                                  CIBC INC.

                                  By: /s/ Colleen Risorto
                                     -----------------------------
                                     Name:  Colleen Risorto
                                     Title: Executive Director
                                            CIBC World Markets Corp. As Agent

                                       5<PAGE>
                                                                    EXHIBIT 10.3

                                                                  EXECUTION COPY

               Amendment No. 3 dated as of June 30, 2000 (this "AMENDMENT")
among Radio Unica Corp., a Delaware corporation (the "BORROWER"), Radio Unica
Communications Corp., a Delaware corporation (the "PARENT") formerly known as
Radio Unica Holdings Corp., the several banks and other financial institutions
(the "LENDERS") from time to time parties to the Credit Agreement (as defined
below), and Canadian Imperial Bank of Commerce, as issuer of certain letters of
credit (the "ISSUER") and as agent for the Lenders thereunder (in such capacity,
the "AGENT").

                               W I T N E S S E T H

               WHEREAS, the Borrower, the Parent, the Lenders, the Agent and the
Issuer are parties to the Credit Agreement dated as of July 8, 1998 (such
agreement, as amended by Amendment No. 1, dated as of October 15, 1999, and as
further amended by Amendment No. 2, dated as of February 22, 2000, the "CREDIT
AGREEMENT"; terms defined in the Credit Agreement are used herein as defined
therein);

               WHEREAS, the Borrower has requested that certain amendments be
made to the Credit Agreement;

               WHEREAS, the parties desire to amend the Credit Agreement;

               NOW, THEREFORE, in consideration of the premises contained herein
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto intending to be legally bound
do hereby agree as follows:

               SECTION 1. AMENDMENTS.

               SECTION 1.1. The definition of "Commitment" set forth in Section
1.1 of the Credit Agreement is hereby amended and restated in its entirety to
read as follows:

                    "COMMITMENT" shall mean, as to any Lender, the obligation of
               such Lender to make Loans to the Borrower in an aggregate
               principal amount at any one time outstanding not to exceed the
               amount set forth under the heading "Commitments" opposite such
               Lender's name on Schedule I, as such amount may be reduced from
               time to time pursuant to this Agreement. At the date of this
               Agreement, the aggregate amount of the Commitment shall be equal
               to $20,000,000; PROVIDED that for any period in which the
               Operating Cash Flow (Loss) of the Borrower for the twelve months
               most recently ended exceeds ($12,500,000), the aggregate amount
               of the Commitment which the Borrower shall be permitted to borrow
               shall not exceed $5,000,000.

<PAGE>

               SECTION 1.2. The definition of "Operating Cash Flow (Loss)", as
set forth below, shall be added to Section 1.1 of the Credit Agreement:

                    "OPERATING CASH FLOW (LOSS)" shall mean, for any period of
               determination, a negative Operating Cash Flow. The dollar amount
               of any such Operating Cash Flow (Loss) shall be denoted in this
               Agreement with a parenthetical surrounding such dollar amount.

               SECTION 1.3. The definition of "Revenues", as set forth below,
shall be added to Section 1.1 of the Credit Agreement:

                    "REVENUES" shall mean, for any period of determination,
               total revenues of the Borrower and its Restricted Subsidiaries
               from (a) the ownership and operation of radio stations (b)
               providing Spanish language programming to radio stations owned by
               third parties that are operated by the Borrower and its
               Restricted Subsidiaries through time brokerage agreements and (c)
               providing Spanish language programming to radio stations owned
               and operated by third parties under affiliation agreements, in
               each case, net of commissions actually paid or accrued with
               respect thereto; PROVIDED, that (i) with respect to any Permitted
               Acquisition, "Revenues" shall include only total revenues
               attributable to the Capital Stock or Assets so acquired
               commencing with the date such Acquisition is completed and (ii)
               with respect to any disposition, "Revenues" shall include only
               those total revenues attributable to the assets or Capital Stock
               so disposed up to the date such disposition is completed.

               SECTION 1.4. Section 6.1 of the Credit Agreement is hereby
amended by amending and restating in its entirety subsection (b) to read as
follows:

                    (b) LEVERAGE RATIO. Permit the Leverage Ratio to exceed the
               ratio set forth opposite such period below at the end of any
               fiscal quarter of the Borrower and at the time the Borrower makes
               any request for Loans hereunder:

<TABLE>
<CAPTION>

                           Period                          Leverage Ratio
                           ------                          --------------
<S>                        <C>                             <C>
                           6/30/00-9/30/00                 none
                           10/1/00-6/30/01                 none
                           07/01/01-9/30/01                none
                           10/01/01-thereafter             3.00 to 1.00
</TABLE>

               SECTION 1.5. Section 6.1 of the Credit Agreement is hereby
further amended by adding the following subsection (c):

                    (c) MINIMUM REVENUES. On the last day of any fiscal quarter
               of the Borrower, commencing with the quarter ending on September
               30, 2000, permit the Revenues of the Borrower for the most
               recently ended

                                       2
<PAGE>

               twelve-month period to be less than the amount set forth below
               for each period set forth below.

<TABLE>
<CAPTION>

                           Period                    Minimum Revenues ($MM)
                           ------                    ----------------------
<S>                        <C>                       <C>
                           9/30/00-12/31/00          $23.0
                           1/1/01-6/30/01            $30.0
                           7/01/01-9/30/01           $37.0
                           10/01/01-thereafter       none
</TABLE>

               SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE PARENT AND THE
BORROWER. Each of the Parent and the Borrower represents and warrants that, as
of the date hereof after giving effect to this Amendment, all the
representations and warranties of the Parent, the Borrower and each Loan Party
in or pursuant to any Loan Document shall be true and correct in all material
respects on and as of such date as if made on and as of such date.

               SECTION 3. CONDITIONS TO EFFECTIVENESS. This Amendment shall be
effective when (a) the Agent shall have received:

                    (i) counterparts hereof executed by duly authorized officers
               of the Borrower, the Parent and by duly authorized signatories of
               the Lenders;

                    (ii) a consent from each Guarantor not a party hereto in the
               form attached as EXHIBIT A; and

                    (iii) such other documents and certificates as the Agent may
               request; and

               (b) all fees and expenses due and owing to the Agent or any
Lender (including, without limitation, any reasonable fees and expenses of
counsel to the Agent) shall have been paid.

               SECTION 4. REFERENCE TO AND EFFECT IN THE LOAN DOCUMENTS. (a)
Upon the Effective Date, each reference in the Credit Agreement to "this
Agreement", "hereunder", "hereof" or words of like import referring to the
Credit Agreement, and each reference in the other Loan Documents to "the Credit
Agreement", "thereunder", "thereof" or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended hereby.

               (b) Except as specifically amended above, the Credit Agreement
and all other Loan Documents are and shall continue to be in full force and
effect and are hereby in all respects ratified and confirmed. Without limiting
the generality of the foregoing, the Loan Documents and all the Collateral
described therein do and shall continue to secure the payment of all obligations
of the Borrower under the Credit Agreement, the Notes and the other Loan
Documents, in each case as amended hereby.

               (c) The execution, delivery and effectiveness of this Amendment
shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of any

                                       3
<PAGE>

Lender or the Agent under any of the Loan Documents, nor constitute a waiver of
any provision of any of the Loan Documents.

               SECTION 5. EXECUTION IN COUNTERPARTS. This Amendment may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be
deemed to be an original and all of which taken together shall constitute but
one and the same agreement.

               SECTION 6. GOVERNING LAW. This Amendment shall be governed by,
and construed in accordance with, the laws of the State of New York.

            [NO ADDITIONAL TEXT ON THIS PAGE; SIGNATURE PAGE FOLLOWS]

                                       4
<PAGE>

               IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the date first above written.

                                       RADIO UNICA COMMUNICATIONS CORP.
                                       f/k/a Radio Unica Holdings Corp.

                                       By:
                                           -----------------------------
                                           Name:
                                           Title:

                                       RADIO UNICA CORP.

                                       By:
                                           -----------------------------
                                           Name:
                                           Title:

                                       CANADIAN IMPERIAL BANK OF COMMERCE,
                                       as Agent

                                       By:
                                           -----------------------------
                                           Name:
                                           Title:

                                       LENDERS:

                                       CIBC INC.

                                       By:
                                           -----------------------------
                                           Name:
                                           Title:

<PAGE>

                                                                   EXHIBIT A

                            REAFFIRMATION AND CONSENT

                            Dated as of June 30, 2000

               Each of the undersigned, a Subsidiary of Radio Unica Corp. that
has entered into one or more Loan Documents (as defined in the Credit Agreement
referred to in the foregoing Amendment No. 3), hereby consents to said Amendment
and hereby reaffirms and agrees that (i) such Loan Documents are, and shall
continue to be, in full force and effect and are hereby ratified and confirmed
in all respects except that, upon the effectiveness of, and on and after the
date of, such Amendment No. 3, each reference in such Loan Documents to the
"Credit Agreement", "thereunder", "thereof" or words of like import shall mean
and be a reference to the Credit Agreement as amended by said Amendment, and
(ii) the Loan Documents to which the undersigned is a party and all of the
Collateral described therein do, and shall continue to, secure the payment of
all Obligations.

                                    BLAYA, INC.
                                    RADIO UNICA NETWORK, INC.
                                    RADIO UNICA. SALES CORP.
                                    ORO SPANISH BROADCASTING, INC.
                                    RADIO UNICA OF SAN FRANCISCO, INC
                                    RADIO UNICA OF SAN FRANCISCO LICENSE CORP.
                                    RADIO UNICA OF HOUSTON LICENSE CORP.
                                    RADIO UNICA OF MIAMI, INC.
                                    RADIO UNICA OF MIAMI LICENSE CORP.
                                    RADIO UNICA OF LOS ANGELES, INC.
                                    RADIO UNICA OF LOS ANGELES LICENSE CORP.
                                    RADIO UNICA OF NEW YORK, INC.
                                    RADIO UNICA OF NEW YORK LICENSE CORP.
                                    RADIO UNICA OF PHOENIX, INC.
                                    RADIO UNICA OF PHOENIX LICENSE CORP.
                                    RADIO UNICA OF DALLAS, INC.
                                    RADIO UNICA OF DALLAS LICENSE CORP.
                                    RADIO UNICA OF CHICAGO, INC.
                                    RADIO UNICA OF CHICAGO LICENSE CORP.
                                    RADIO UNICA OF DENVER, INC.
                                    RADIO UNICA OF DENVER LICENSE CORP.
                                    RADIO UNICA OF MCALLEN, INC.
                                    RADIO UNICA OF MCALLEN LICENSE CORP.
                                    RADIO UNICA OF FRESNO, INC.
                                    RADIO UNICA OF FRESNO LICENSE CORP.
                                    RADIO UNICA OF SAN ANTONIO, INC.
                                    RADIO UNICA OF SAN ANTONIO LICENSE CORP.

                                    By:
                                        -----------------------------
                                        Name:
                                        Title:

                                       6

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