In a pre-Cannes Film Festival deal, FilmNation Entertainment has negotiated $120 million in additional capital through a revolving multi-bank credit facility agented by Bank of America Merrill Lynch and co-led by Union Bank.
FilmNation made the announcement Wednesday. It said the move greatly expands its financial capabilities as part of its strategic initiative focused on being a one-stop destination for the world’s best storytellers, all while aggressively building asset value across its feature film business, its television efforts, and its other numerous strategic investments in related verticals.
The current slate includes WWII epic “Greyhound,” starring Tom Hanks (to be released by Sony Pictures in April, 2019); Sebastian Lelio’s “Disobedience,” starring Rachel Weisz and Rachel McAdams (to be released by Bleecker Street on April 27); “The Children Act,” starring Emma Thompson (to be released by A24 this September); Dan Fogelman’s “Life Itself,” starring Oscar Isaac and Olivia Wilde (to be released by Amazon this September); and Lelio’s “Gloria,” starring Julianne Moore (in post-production).
The slate also includes Mindy Kaling and Thompson starrer “Late Night” (in production in New York); Armando Iannucci’s “The Personal History of David Copperfield,” starring Dev Patel (shooting this summer); and supernatural horror “The Lodge,” starring Riley Keough (in post-production). FilmNation’s “Wildlife,” directed by Paul Dano and starring Carey Mulligan and Jake Gyllenhaal, is the Critics’ Week opening night film at Cannes.
The revolving facility was negotiated by FilmNation Entertainment’s Milan Popelka and Alison Cohen. Akin Gump’s Christopher Spicer and Warren Biro represented Bank of America as agent.