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Lakeshore Renews Credit Facility: $250M Over 5 Years

Deadline logo Deadline 5/8/2017 Patrick Hipes
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Lakeshore Entertainment Group has closed the latest iteration of its revolving credit facility with its capital partners, extending their agreement for five more years with a $250 million committment. The deal provides financing for Lakeshore’s film production slate and P&A activities, its nascent TV arm and ongoing corporate capital.

Lakeshore also said it has renewed three transactions with private equity firm Vine Alternative Investments, which recommitted its mezzanine financing to extend an agreement to co-finance a 12-picture slate, as well as its foreign sales agency partnership.

JPMorgan led the credit-facility deal alongside Bank of America and all existing capital partner comprising Lakeshore’s current group of 10 banks. All recommitted early to the new facility and most in amounts exceeding prior commitments, according to the company. Lakeshore Entertainment COO Eric Reid and CFO Marc Reid arranged the financing on behalf of the company.

“JPMorgan, Bank of America and our bank group are highly valued long-term partners to Lakeshore. We very much appreciate their decades of support,” said Lakeshore CEO Tom Rosenberg. “And Vine continues to be among the most important and creative financiers in Hollywood. Their understanding of our business allows us to work shoulder-to-shoulder to navigate the entertainment landscape.”

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