New Regency Closes Deal for $500 Million in New Financing
New Regency has completed a deal to replace its $500 million credit line through a group of banks, setting the stage for a more active role for founder Arnon Milchan and providing funding for more movies under his new head of production Brad Weston.
The lead banks on the five-year revolving credit line are J.P. Morgan and Bank of America, with at least another dozen banks involved in the syndication of the loan. The deal is done but it will take another week or two before all the contracts are completed and signed, after which the deal will be formally announced, according to sources.
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