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New Regency Extends Credit Facility, Announces Term Loan
June 17, 2020
New Regency has extended its credit facility for an additional five years, the entertainment company behind “The Revenant” and “Gone Girl” announced Tuesday.
The extension includes a revolving facility with a capacity of $700 million. It is led by J.P. Morgan and also backed by such financial institutions as Bank of America, Union Bank, and SunTrust. New Regency said it has also closed a five and a half year, $125 million term loan from The Carlyle Group.
J.P. Morgan has a decades-long relationship with New Regency, and has arranged financings several times in the past. The financing announcement comes as much of Hollywood has ground to a halt. Coronavirus has closed movie theaters and suspended film and television production. The hope is that cinemas can slowly reopen in the coming months and that production can resume.
New Regency’s deal was originally set up at 20th Century Fox. It has moved to The Walt Disney Company following the company’s 2019 acquisition of much of Rupert Murdoch’s media empire.
Its upcoming slate includes Adrian Lyne’s “Deep Water” starring Ben Affleck and Ana de Armas; “Everybody’s Talking About Jamie,” a musical starring Richard E. Grant, Sharon Horgan, Sarah Lancashire and newcomer Max Harwood; director David O. Russell’s next project starring Christian Bale, Michael B. Jordan and Margot Robbie, as well as Robert Eggers’ “The Northman” starring Alexander Skarsgård, Nicole Kidman and Willem Dafoe.
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