US home entertainment distributor Genius Products has signed a three-year revolving credit facility arranged by Societe Generale for an initial commitment of $30m rising to a total of $70m based on expected incremental commitments.
The debt will be used to provide working capital and to finance acquisitions, production and co-productions, distribution and marketing.
The amount available under the facility is based on accounts receivable, excluding those associated with product from The Weinstein Company (TWC).
'We believe that this new credit facility validates the strength of our expanding relationships with content partners and provides us with the additional financial capacity to drive sustainable, long-term growth in a cost-effective manner,' Genius' chairman Stephen K Bannon said.
'As previously announced, we have a plan in place for a phased expansion of our business, which includes co-productions with our branded partners in our four verticals of sports, family/faith, lifestyle and independent film, where we expect to own or co-own copyright and distribution rights, greatly enhancing the value of our library.
'We also remain focused on expanding relationships with our existing content partners through traditional and non-traditional distribution and marketing in the areas of interactive, digital and licensing.'
The debt will be used to provide working capital and to finance acquisitions, production and co-productions, distribution and marketing.
The amount available under the facility is based on accounts receivable, excluding those associated with product from The Weinstein Company (TWC).
'We believe that this new credit facility validates the strength of our expanding relationships with content partners and provides us with the additional financial capacity to drive sustainable, long-term growth in a cost-effective manner,' Genius' chairman Stephen K Bannon said.
'As previously announced, we have a plan in place for a phased expansion of our business, which includes co-productions with our branded partners in our four verticals of sports, family/faith, lifestyle and independent film, where we expect to own or co-own copyright and distribution rights, greatly enhancing the value of our library.
'We also remain focused on expanding relationships with our existing content partners through traditional and non-traditional distribution and marketing in the areas of interactive, digital and licensing.'
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