Comerica Entertainment Group has structured a $110 million syndicated corporate credit facility for Fireworks Entertainment.
Deal is expected to involve other international financial institutions, including co-arranger Westdeutsche Landesbank, and lenders Vereins Bank, Scotia Capital, US Bank and GE Capital Fund. The transaction is expected to close later this month.
Fireworks is behind such series as “Gene Roddenberry’s Andromeda,” “La Femme Nikita” and “Even Stevens”; features including “Rat Race,” “Rules of Engagement” and “The Believer”; and the upcoming ABC miniseries “A Wrinkle in Time.”
Comerica already has arranged more than $100 million in project financing loans for Fireworks. Net proceeds from the credit facility will primarily be used to finance growth, including development, production, acquisition and distribution of new film and television properties.
Comerica’s Amy Cotteleer and head of syndication Glenn Harvey negotiated the deal with Fireworks’ Blake Tohana and Greg Gilhooly.
