Enesco amends loan, extending tenor to 2007

By Sara Rosenberg

New York, Dec. 21 - Enesco Group Inc. successfully amended its credit facility, extending the term until Jan. 1, 2007 from Dec. 31, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The extension was needed to allow the company time to finalize its $75 million five-year senior secured credit replacement facility that is being led by LaSalle Business Credit LLC.

In addition, the new amendment establishes cumulative minimum consolidated EBITDA requirements and cumulative maximum capital expenditure limitations, which are each measured monthly during 2006.

Enesco will pay monthly fees if the current facility is not repaid.

Enesco is an Itasca, Ill., producer of fine gifts, collectibles and home decor accessories.

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