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Metro-Goldwyn-Mayer Inc. has increased its debt capital structure to $2.5 billion, the studio announced Wednesday.

The facility includes a $1.7 billion five-year revolving credit facility, a new $400 million seven-year term loan and a new eight-year second lien term loan and repaid the entire outstanding balance on its prior $850 million term loan.

Arranged by J.P. Morgan with a syndicate of lenders, MGM said the credit facility lowers MGM’s borrowing rate to the London interbank offered rate (LIBOR) plus 1.75% on the revolving credit facility, extends the tenor of its overall borrowings, augments certain other terms from the company’s prior credit agreement, and provides MGM with significant financial flexibility to continue executing on its strategic growth initiatives.

“The speed of execution, enhanced terms and improvements to the structure of our credit facility are reflective of MGM’s solid financial position and excellent relationships with the financial community,” said Kenneth Kay, MGM’s chief financial officer. “I would like to thank all of our long-standing and new lenders for their tremendous support of MGM. This transaction is an important milestone for the company and will support the continued growth trajectory of MGM into the future.”

David Shaheen, head of entertainment industries for J.P. Morgan’s Corporate Client Banking Group, added, “We’re thrilled to work with MGM as it continues to grow in a dynamic industry led by a strong management team and with ongoing support from the banking community.

The announcement comes a month after MGM Holdings agreed to pay $260 million to former CEO Gary Barber in exchange for his equity stake and a three-year standstill agreement. The exec was fired in March after he ran afoul with Kevin Ulrich, chairman-CEO of MGM majority owner Anchorage Capital Group and the head of the studio’s board, over their visions for the future.

MGM is being run by a management team of senior executives following the firing of Barber. The executives announced two weeks after the ouster that they were operating under a newly created and christened “Office of the CEO.”

MGM’s upcoming movie slate includes “Operation Finale,” “Creed 2,” “The Addams Family,” and the untitled 25th “James Bond” movie. Reese Witherspoon recently agreed to reprise her role as Elle Woods in “Legally Blonde 3.” MGM’s television operations include “The Handmaids Tale” and “The Voice.”