RatPac Closes $150 Million Credit Facility to Fund Upcoming Warner Bros. Titles
The new fund has a total capitalization of up to $225 million
RatPac Entertainment closed a $150 million credit facility with Bank of America Merrill Lynch that will be used for funding upcoming titles from Warner Bros., the parties said Monday.
While Bank of America Merrill Lynch is the sole arranger and administrative agent, syndicate banks include SunTrust Bank, Union Bank and City National Bank, and RatPac says the new fund has a total capitalization of up to $225 million.
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RatPac is the film finance and production partnership of filmmaker Brett Ratner and Australian mogul James Packer.
A year ago, RatPac, in partnership with Steven Mnuchin's Dune Entertainment, closed on a $300 million credit facility also led by Bank of America Merrill Lynch for Warner Bros.' films, and it was expected there would be more to come.
A slate financing deal was presumably been necessary for Warner Bros. since the studio and Legendary Entertainment ended their partnership more than a year ago.