Los Angeles-based finance and international sales company QED International has secured a $50m revolving credit facility from senior lender Comerica Bank and the London-based Aramid Entertainment Fund.

The new financing facility will allow QED to 'directly and quickly' greenlight projects, said CEO Bill Block.

'This facility allows us to say yes to production companies and writers/directors that we believe will be viable in today's global marketplace,' Block said.

'QED is now in the position to structure and finance films in a number of ways that will ultimately allow us to bring more product to the marketplace which we believe will show solid returns for our partners.'

The first project to be financed using the new facility is Neil Burger's The Return, with Rachel McAdams, Tim Robbins and Michael Pena, which begins principal photography this month and will be distributed in the US by Lionsgate.

The first project financed by QED was Richard Shepard's The Hunting Party, to be released domestically in September by the Weinstein Company.

Now, said Block, QED will be able to finance two or three films - in the $10m-$35m budget range - a year. Another two or three projects a year will be taken on for international sales.

Block suggested that financing operations such as Aramid are now becoming more interested in working with independent film companies as well as Hollywood studios because the financiers can get a more direct and controllable return from independents.

'They're sitting much more in the front of the bus, so to speak, with companies like ourselves,' Block said.

Bryan Lacour led negotiations on the QED deal for Comerica Bank. Simon Fawcett led for Aramid Entertainment Fund, which was represented by Schuyler Moore at Stroock, Stroock, & Lavan. David Molner and Dan Miller led for Screen Capital. Bill Block and Paul Hanson led for QED, represented by Joshua Grode at Liner, Yankelevitz Sunshine & Regenstreif.

Topics