'This new facility is another component of Lionsgate's strong balance sheet, a key driver of our growth in the future,' Lionsgate vice chairman Michael Burns said.
'With $371m in cash and cash equivalents at the end of fiscal 2008, no corporate bank debt, long-term sub debt locked in at approximately 3.31% and this new facility, we are well positioned to take advantage of potential strategic opportunities that may arise, consistent with our business plan.'
JPMorgan managing director Christa Thomas said the arrangement was 'a testament to Lionsgate's senior management team, business plan, financial strength and track record of growth and success.'
In the past three years Lionsgate has invested more than $150m in growing the business through the acquisition of Mandate Pictures, Redbus Film Distributors in the UK - now Lionsgate UK - as well as the Debmar-Mercury television syndication company, a 42% investment in young men's website Break.com, a 43% investment in Roadside Attractions and the launch of the FEARNet branded horror channel with Sony and Comcast.
The new facility was orchestrated for Lionsgate by Burns, CFO Jim Keegan and executive vice president of business and legal affairs James Gladstone. Morgan Lewis & Bockius served as outside counsel for JPMorgan and Jim Russell of Heenan Blaikie was outside counsel for Lionsgate on the deal.