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HIT Entertainment seeks term loan repricing, change to covenant light
By Sara Rosenberg
New York, March 26 - HIT Entertainment Ltd. is looking to reprice its term loan B and change it to a covenant-light structure, according to a market source.
Under the repricing, the spread on the term loan B will go down to Libor plus 200 basis points from Libor plus 225 bps, the source said.
Deutsche Bank and Merrill Lynch are the lead banks on the deal that was launched to investors last Thursday.
HIT Entertainment is a London-based producer of children's television programming, including "Barney and Friends" and "Bob the Builder".
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