HIT Entertainment to get LBO loan via Merrill and Deutsche

By Sara Rosenberg

New York, July 5 - HIT Entertainment plc is expected to approach the loan market with a new credit facility to help fund its leveraged buyout by Apax Partners, according to a market source. Merrill Lynch and Deutsche Bank are the lead banks on the deal, with Merrill left lead.

The facility is expected to be comprised primarily of U.S. debt, the source said.

No further details were available prior to press time.

HIT Entertainment is a London-based producer of children's television programming, including Barney and Friends and Bob the Builder.

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