Heading into Cannes the word was that Bold Films was about to ramp up operations and so it has proved to be as the hierarchy announced on Thursday [8] a revolving credit line with Comerica Bank.
The $35m deal will allow Bold to produce four to six films a year and covers an extended feature slate that includes The Coup, the previously announced action thriller to star Owen Wilson and Pierce Brosnan.
The first film the Comerica facility will cover is Ryan Gosling’s feature directorial debut How To Catch A Monster. Production wrapped recently in Detroit and the film stars Christina Hendricks, Saiorse Ronan, Eva Mendes, Matt Smith and Ben Mendelsohn. Warner Bros handles US distribution.
Next up Bold will finance the Jake Gyllenhaal and Rene Russo thriller Nightcrawler that starts in October.
“As we ramp up our production activity, this facility will maximise the leverage on our equity and the ultimates component will allow us to realise domestic revenues much more quickly, said co-president Gary Michael Walters.
“Standardising our loan structure and getting volume discounts on our financing costs will accelerate our ability to mount our productions efficiently,” added co-president David Lancaster.
Company CFO Rob Mitchell spearheaded the deal on Bold’s behalf. Miles Mogulescu handled legal end of the deal. Adam Korn and Jacqueline Vega brokered the deal for Comerica.
John Erick Dowdle will direct The Coup from a screenplay he co-wrote with his brother Drew Dowdle.
Production is set for November in Thailand in November with Bold owner Michel Litvak produces alongside co-president David Lancaster and Drew Dowdle. Co-president Gary Michael Walters serves as executive producer.
Sierra/Affinity handles international sales on the slate.
No comments yet