FilmNation Closes Deal On $120M In New Financing
April 18, 2018
FilmNation Closes Deal On $120M In New Financing
FilmNation Entertainment said it has negotiated $120 million in capital via a revolving multi-bank credit facility, which will give the indie producer, financier and international distribution company cash to invest in more film, TV film, theater, digital and VR content as well as other strategic investment areas. That plan includes taking on films with higher budgets.
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The deal was agented by Bank of America Merrill Lynch and co-led by Union Bank.
“Throughout FilmNation’s history, what has empowered us the most has been our ability to adapt and consistently bet on ourselves and the tremendous filmmakers we’ve had the privilege to work with,” said FilmNation Entertainment CEO Glen Basner and COO Milan Popelka in announcing the news. “This facility gives us another hugely impactful tool to demonstrate the confidence we have in our platform and help bring bold, unique stories to screens of all sizes. We remain focused on growth in the long term, and are excited about the many types of opportunities this capital allows us to seize on.”
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