Magazine article Screen International

Relativity Closes $115M Facility

Magazine article Screen International

Relativity Closes $115M Facility

Article excerpt

Top brass announced they have closed a $115m five-year revolving credit facility led by OneWest Bank, Barclays and City National Bank.

According to a press release, OneWest and Barclays intend to syndicate the facility to increase it to $300m over the next 12 months.

The new unit, Relativity Ultimates Facility, will be used to assist Relativity to target acquisitions and productions in film, television, music and sports.

The facility may also be used to pay down the company's debt in what the press release said would be "more than two years ahead of schedule."

OneWest Bank acted as lead arranger, lead book-runner and administrative agent for the Ultimates Facility and committed $50m. Barclays served as co-lead arranger, joint book-runner and syndication agent and also committed $50m after a six-month period of due diligence. …

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