June 16, 2020 / 4:01 PM / 19 days ago

Birdman producer turns to private credit

NEW YORK, June 16 (LPC) - Film production company New Regency has turned to a private debt lender Carlyle Direct Lending for a US$125m loan, according to a press statement.

The production company, which is behind the making of Academy Award-winning films such as Birdman, The Revenant and 12 Years a Slave turned to the direct lending fund to finance future film projects.

The five-year US$125m loan has been signed alongside a renewal of New Regency’s US$700m revolving credit facility for an additional five years.

Carlyle was the lead arranger on the term loan. JP Morgan was the lead arranger, sole bookrunner and administrative agent on the revolver.

Bank of America, MUFG Union Bank, SunTrust, CIT, City National Bank, Fifth Third Bank, East West Bank, Cathay Bank, Opus Bank and Manufacturers Bank all participated in financing the revolver.

“New Regency has built a unique library of independently produced films by consistently delivering critically acclaimed box office hits over the course of its long track record of success,” said Jonathan Pearl, a managing director at Carlyle Direct Lending, in a press statement. (Reporting by David Brooke. Editing by Michelle Sierra and Kristen Haunss.)

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