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HIT Entertainment pulls $172 million bond deal in favor of 7.5-year second-lien term loan
By Paul A. Harris and Sara Rosenberg
St. Louis, Aug. 12 - HIT Entertainment plc pulled its $172 million offering of eight-year senior subordinated notes (CCC+), opting instead to add a second-lien term loan to its credit facility, according to a market source.
Merrill Lynch and Deutsche are leading bank deal.
The financing will be used to help fund Apax Partners' leveraged buyout of HIT Entertainment.
HIT is a London-based producer of children's television programming, including "Barney and Friends" and "Bob the Builder."
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