Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HIT Entertainment, Inc. > News item |
HIT Entertainment sets Wednesday launch for $453 million credit facility
By Sara Rosenberg
New York, July 8 - HIT Entertainment plc is scheduled to hold a bank meeting on Wednesday to launch its proposed $453 million credit facility, according to a market source.
Merrill Lynch and Deutsche Bank are the lead banks on the deal, with Merrill the left lead.
The facility consists of a $77 million six-year revolving credit facility and a $376 million seven-year term loan B, with price talk on both tranches unavailable at this time, the source added.
Proceeds will be used to help fund Apax Partners' leveraged buyout of HIT Entertainment.
The company also plans on approaching the bond market for LBO financing with a $172 million eight-year senior subordinated note offering.
HIT Entertainment is a London-based producer of children's television programming, including Barney and Friends and Bob the Builder.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.