EuropaCorp secures $600m credit facility

EuropaCorp has secured $600m in credit facilities to finance a new slate of English-language films, the Paris-based mini major has announced.

The company said a previously agreed, revolving facility amounting to $160m, and dominated in euros, had been repaid.

The new credit facilities comprise a $400m senior credit line and $150m accordion, bankrolled by a number of major banks, including French bank Natixis.

In addition, the company also secured a $50m facility, arranged by J.P. Morgan with the support of SunTrust Bank and OneWest Bank.

“The facility will be used mainly to finance EuropaCorp’s slate of English-language movies, as well as to fund marketing and distribution costs related to these new productions that will be distributed in the U.S through the joint venture Relativity EuropaCorp Distribution,” the company said in a statement.

EuropaCorp and Relativity announced the creation of their new joint US distribution outfit RED earlier this year.