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Glen Basner’s FilmNation Entertainment has secured a new $120 million credit facility to deepen its film and TV production and acquisition slate ahead of Cannes.
The revolver put together by Bank of America Merrill Lynch and co-led by Union Bank aims to offer the film producer, financier and international distributor additional capital for new content. The financing deal also comes as FilmNation readies upcoming projects for release, including Sebastian Lelio’s Disobedience, starring Rachel Weisz, Rachel McAdams and Alessandro Nivola; and Richard Eyre’s The Children Act, starring Emma Thompson, Stanley Tucci and Fionn Whitehead.
“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,” FilmNation CEO Basner and COO Milan Popelka said Wednesday in a joint statement.
FilmNation has also boarded Armando Iannuci’s The Personal History of David Copperfield, which is set to start production in June in the U.K., and will also co-finance the comedy Late Night, starring Mindy Kaling and Emma Thompson.
The revolving facility was negotiated by FilmNation’s Popelka and executive vp business and legal affairs Alison Cohen. Akin Gump’s Christopher Spicer and Warren Biro represented Bank of America.
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