Lakeshore docks $150 million in credit

Money to fund film prod'n, other corporate purposes

Film producer Lakeshore Entertainment is finalizing a $150 million, five-year, revolving credit facility arranged through J.P. Morgan Securities.

Based on the Paramount lot, Lakeshore has a multipic distribution deal with Paramount, which distribbed its recent actioner “The Hunted.” Upcoming Lakeshore pics include Anthony Hopkins-Nicole Kidman starrer “The Human Stain,” to be released by Miramax, and Kate Beckinsale-toplined “The Underworld,” which Sony will distrib.

The new financing — a first-time revolving commitment for the 8-year-old company — will be used to fund film production and other corporate purposes.

“Lakeshore is growing and maturing,” Lakeshore prexy Tom Rosenberg said. “And for its further growth and expansion, I think it’s necessary to deepen its relationship with the banking community, led by J.P. Morgan.”

Union Bank and U.S. Bank are co-agents with J.P. Morgan. About a dozen lenders are expected to participate in a J.P. Morgan-led bank syndication for the financing.

“The lending environment is very tough right now, but the banking community has responded quite favorably to the Lakeshore name,” said John Miller, managing partner at J.P. Morgan Securities.

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