Skydance Media Closes $1 Billion Credit Facility (variety.com)
Skydance Media has closed a four-year, $500 million revolving credit facility led by J.P. Morgan.
The company says that it has the ability to expand that facility to $1 billion and also said that it plans to use the money to support corporate operations as well as production and development. Skydance previously closed a $700 million round of new financing in 2016 with J.P. Morgan.
Skydance, which has financed or co-financed the likes of “True Grit,” “6 Underground,” “Gemini Man,” “Jack Reacher” and several “Mission: Impossible” sequels, is hoping to use some of the money to back its moves into animation and television.
Skydance President and Chief Operating Officer Jesse Sisgold closed the facility in collaboration with Skydance CFO Larry Wasserman. Other partners involved in the facility include Comerica, Bank of America, Truist Bank, Union Bank, Bank Hapoalim, CIT Bank, East West Bank, Fifth Third Bank, California Bank & Trust, Citizens Bank, Bank of Hope, and Preferred Bank.
By: Brent Lang