Securing Spyglass

JPMorgan sets $250 mil credit for shingle

Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities.

New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures.

Spyglass had previously set up a $200 million credit line with JPMorgan Chase that expired at the end of March.

Shingle recently produced “Connie & Carla,” starring Nia Vardalos and Toni Collette for Universal.

Upcoming pics include “Mr. 3000,” starring Bernie Mac and Angela Bassett for Disney.

Shingle, founded in 1998 by co-chairmen and co-CEOs Gary Barber and Roger Birnbaum, has also begun production on an adaptation of “The Hitchhiker’s Guide to the Galaxy” for Disney and family comedy “The Pacifier,” directed by Adam Shankman and starring Vin Diesel.

This fall the shingle will finance and produce “Four Christmases,” to be directed by Shankman, and three other pics: “The Invisible,” “Mute Witness” and “Bunny Lake is Missing.”

Spyglass originally aimed to raise $200 million but added another $50 million due to stronger-than-expected demand from the finance community.

“Our enthusiasm for Spyglass has been validated by the overwhelming response from the banking community, and the upsizing of the credit facility is a testament to both Spyglass’ strong management team and sound business model, which includes ownership of a growing film library,” said John Miller, managing director of JPMorgan.

JPMorgan led a consortium of 15 lenders including Union Bank of California, Royal Bank of Scotland, Vereins Und-westbank, BNP Paribas, Societe Generale, ING, Fleet Bank, US Bank, City National, HSBOC, Manufacturers Bank, Mercantile National Bank, Bank Leumi, Israel Discount Bank and Cathay Bank.

More Scene

  • Issa Rae, Natasha Rothwell and Yvonne

    'Insecure' Season 3 to Introduce New 'Timely' Show Within The Show

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • Kathy Griffin Trump beheading photo

    Kathy Griffin Details Fight With Ellen DeGeneres, Talks Fallout From Trump Photo During Comedy Tour

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • Ryan Murphy Pose

    Ryan Murphy on 'Showrunning as Advocacy' and the Post-Me Too 'Age of Enlightenment'

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • 'The Sinner' film premiere

    Jessica Biel Closes Her Kid-Friendly Au Fudge Restaurant

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • Comedy Converstion with L to R:

    Just for Laughs Festival Honors Tiffany Haddish, Hannah Gadsby, More

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • Paul Krassner Memoir Illustration

    Paul Krassner on Resisting With Humor

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

  • Just for Laughs Festival Montreal

    Just for Laughs Festival Is the Coachella of Comedy

    Spyglass Entertainment has closed a $250 million, five-year revolving credit facility with JPMorgan Securities. New coin will help finance future production and acquisition activity amounting to five pics annually. It will include pics under the shingle’s nonexclusive, first-look production and co-financing pact recently inked with Sony’s Columbia Pictures. Spyglass had previously set up a $200 […]

More From Our Brands

Access exclusive content