Miramax Closes $300M Credit Facility Led by Bank of America Merrill Lynch and MUFG Union Bank

Miramax has just announced it has secured a multi-bank revolving credit facility for $300M led by Bank of America Merrill Lynch and MUFG Union Bank that extends for five years. The deal provides financing for the studio to produce and finance 4 to 6 films a year as well as deficit finance 2 to 3 television series per year, ramping up their slate and providing more strategy for growth.

Miramax CEO Bill Block and Miramax EVPs of Finance Dennis Hands, Jeremy Gross and David Cragnotti negotiated the deal on behalf of the studio. Randy Hua, Senior Vice President of the Los Angeles-based Technology, Media & Entertainment Group, handled the deal on behalf of Bank of America Merrill Lynch.

"We are thrilled to commence a valued partnership with Bank of America Merrill Lynch and MUFG Union Bank," said Miramax CEO Bill Block. "The credit facility allows Miramax to efficiently finance its current and future production slate as we shift to increase our growth."

"Bank of America Merrill Lynch is proud to support Miramax, a valued client and one of the most successful content companies in the entertainment business," said Mr. Hua. "This credit facility will allow Miramax the flexibility to continue to strategically grow their film and television capabilities with innovative and exciting content."

"Union Bank is excited to support Bill's leadership of Miramax as it endeavors to bolster its premier library assets with an ambition for a robust film and television content creation slate" said Bryan LaCour, Head of Union Bank's Entertainment Finance team."

The deal has been secured prior to the 2018 Cannes Film Festival where Miramax will be in attendance.

About MIRAMAX®
Acquired by beIN Media Group (beinmediagroup.com) in March 2016, MIRAMAX® is a global film and television studio best known for its award-winning and original content. Nasser Al-Khelaifi serves as Chairman of MIRAMAX® and beIN Media Group.

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