Bank of America Merrill Lynch led the campaign to back the $150 million credit facility that director Brett Ratner and Australian mogul James Packer can tap to help fund upcoming Warner Bros. releases. With the new facility, Ratner and Packer’s RatPac Entertainment has $225 million at its disposal for the films.
The credit facility “is critical to RatPac’s key partnership with Warner Bros. and we will continue to work hard to deepen and strengthen this relationship in the future,” Packer says. Ratner adds that the bank support will help RatPac’s effort to become “a global media and entertainment brand.”
Boa’s Daniel Timmons, at its Entertainment Industries Group, led the new financing effort. The bank is the sole arranger and administrative agent for the credit facility. Other backers include SunTrust Bank, Union Bank, and City National Bank.
The credit facility “is critical to RatPac’s key partnership with Warner Bros. and we will continue to work hard to deepen and strengthen this relationship in the future,” Packer says. Ratner adds that the bank support will help RatPac’s effort to become “a global media and entertainment brand.”
Boa’s Daniel Timmons, at its Entertainment Industries Group, led the new financing effort. The bank is the sole arranger and administrative agent for the credit facility. Other backers include SunTrust Bank, Union Bank, and City National Bank.
- 10/27/2014
- by David Lieberman
- Deadline
Glen Basner's FilmNation -- celebrating its fifth anniversary this year -- has secured $50 million in additional capital from longtime partners Bank of America Merrill Lynch and Union Bank. The equity-backed credit facility will allow FilmNation to finance and produce an increasing number of movies. Last year, the production, financing and international sales company saw its slate of films, including Looper, take in more than $420 million at the worldwide box office. The $50 million in new capital was facilitated by the longstanding relationship between FilmNation and Bank of America’s Brian Stearns, Daniel Timmons and Sharad Bhatt, as well as Union
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- 5/7/2013
- by Pamela McClintock
- The Hollywood Reporter - Movie News
Bank of America Merrill Lynch has promoted Brian Stearns and Daniel Timmons to the newly created roles as co-heads of the Entertainment Industries coverage unit, it was announced on Tuesday. The duo is responsible for portfolio strategy, client coverage, credit execution and risk management in addition to advising clients on capital structure alternatives. The announcement comes as the entertainment sector for Bank of America Merrill Lynch is experiencing strong growth. The company recently led transactions totaling more than $3 billion for such clients as CAA, Open Road Films, Dune Entertainment, Legendary Pictures,...
- 9/4/2012
- by Liza Foreman
- The Wrap
Brian Stearns and Daniel Timmons are heading to Toronto this week for the annual film festival with new titles as senior vps of Bank of America and as co-heads of the bank’s expanding entertainment industry group – the first to hold that leadership position at the big bank in more than a decade. In Toronto, they will meet with clients like Alliance and Entertainment One, as well as sales agents such as Sierra Pictures and Im Global. They will also consult with European clients like Luxembourg based media fund Anton Capital Entertainment and the U.K.’s Keyone Productions
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- 9/4/2012
- by Alex Ben Block
- The Hollywood Reporter - Movie News
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