OddLot Entertainment has closed a $50m revolving credit facility with JP Morgan and Comerica as co-lead arrangers with the option of increasing to $150m.
The arrangement will be used to fund the development and production pipeline, among other goals.
OddLot co-president Bill Lischak (pictured) led the deal alongside newly promoted evp of finance Natalya Petrosova (pictured) and evp of business and legal affairs Aaron Michiel.
The company is co-producing Ivan Reitman’s Draft Day, which stars Kevin Costner and is earmarked for an April 11 release through Summit Entertainment.
The production slate includes Mortdecai starring Johnny Depp, Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany, which Lionsgate will release, and Jon Stewart’s upcoming directorial debut Rosewater.
Petrosova joined OddLot in 2006 as svp of finance. She was instrumental in analysing and structuring finance plans for Drive, The Way Way Back, Ender’s Game, Rosewater, Draft Day and Mortdecai and took the lead in securing US and international production-related tax credits and rebates. Prior to OddLot, Petrosova was a finance manager for Activision.
OddLot funnels its productions through Sierra/Affinity, the international sales joint venture established with Nick Meyer in 2011. In 2013 OddLot entered into a co-financing and distribution deal with Lionsgate.