The Weinstein Company (TWC) yesterday announced it had completedits financing jigsaw with a $500m film securitisation facility.
Since the company's official launch date on Oct 1, 2005, Bob andHarvey Weinstein say they have raised approximately $1.2bn.
The amount includes $490m in equity, $500m from the filmsecuritisation, and more than $200m through other commercial arrangements.
As always, Goldman Sachs advised the company on the deal. TWC subsidiaryThe Weinstein Portfolio Funding Company will be the borrower under the facilityand will hold distribution rights to the pictures covered by thesecuritisation.
Paul, Weiss, Rifkind, Wharton & Garrison and O'Melveny &Myers advised TWC in connection with the transaction.
"We are thrilled to have completed the financing to fullyfund and execute our business strategy," the brothers said in a joint statement.
"We are incredibly appreciative of all of our partners whomwe have worked with over the past few months and are thrilled that we can now concentrateon what we love most, making movies."
TWC equityholders include Goldman Sachs, Quinta Communications, Perry Capital, and MarkCuban's investment company WPP.