Santa Monica, California, and Vancouver, British Columbia – Lionsgate has entered into a new five-year, US$800 million revolving credit facility, one of the largest raised by an entertainment company in more than a decade. The new facility helps position Lionsgate for continued growth and enables the company to capitalise on long-term strategic opportunities and meet long-term financial objectives.
The new facility replaces Lionsgate’s previous $340 million revolving credit facility. JPMorgan Chase Bank, N.A. served as Administrative Agent with JP Morgan Securities LLC, Barclays Bank Plc, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Royal Bank of Canada acting as Co-Syndication Agents, Joint Bookrunners and Joint Lead Arrangers, Wells Fargo Bank serving as Co-Syndication Agent, and SunTrust Bank and Union Bank acting as Co-Documentation Agents.
The new facility was orchestrated for Lionsgate by Vice Chairman Michael Burns, Executive Vice President Corporate Development Brian Goldsmith, General Counsel and Executive Vice President Corporate Operations Wayne Levin and Chief Financial Officer Jim Keegan. Lionsgate was represented by the law firms O’Melveny & Myers LLP and Heenan Blaikie LLP.
Lionsgate acquired Summit Entertainment in January 2012 and launched the first film of The Hunger Games franchise, which became the 13th highest-grossing North American release of all time, in March 2012.