Hallmark Entertainment's $215 million term loan "B" broke in the secondary market at 101 last week. A trader said trading volume was low on the name because of the small size of the deal. JPMorgan leads the loan, which is priced at LIBOR plus 2 1/2%. The credit line also includes a $75 million term loan "A" priced at LIBOR plus 2 1/4%, a $65 million second lien priced at LIBOR plus 6 1/2%, and a $90 million revolver priced at LIBOR plus 2 1/4%.
Hallmark Entertainment, a subsidiary of Hallmark Cards, is one of the largest producers of movies for television. The Hallmark Channel, a global television network that focuses on family friendly entertainment, is a subsidiary of the company. One investor said "members of the Lindsay Wagner fan club are welcome," was a catch phrase for the bank meeting back in December. A company spokesperson did not return calls.