LONDON — ContentFilm, the film and TV sales company, has signed a $40 million debt facility, which will enable it to fund the acquisition of new product and explore further corporate expansion.
The five-year secured revolving credit line is led by JPMorgan Chase, and replaces Content’s existing $32 million loan facility.
Content has drawn down $27.5 million of this existing loan, which means that the deal will give it $10-15 million of fresh liquidity to finance its expansion strategy.
This follows Content’s decision in March to pull out of talks to sell itself to Peace Arch Entertainment.
“In coming out of our recent offer period, one of our first priorities has been the renewal and expansion of our credit facility,” said Content CEO John Schmidt.
Content’s biggest recent acquisition was the purchase of the international rights to the library of Canadian pubcaster CBC.