EK Success to launch $170 million credit facility in January

By Sara Rosenberg

New York, Dec. 2 - EK Success Ltd. plans to hold a bank meeting sometime in January 2006 to launch its proposed about $170 million credit facility, according to a market source.

Dresdner is the lead bank on the deal.

The facility is expected to consist of an estimated $20 million revolver, $100 million in first-lien debt dividend between a term loan and a pre-funded letter of credit facility and a $50 million second-lien term loan, the source said.

Proceeds will be used to help fund the leveraged buyout of EK Success by GTCR Golder Rauner LLC.

EK Success is a scrapbooking and craft products company.

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