New Regency has closed on a pair of financing deals that give it up to $825 million in fresh capital for new production, founder Arnon Milchan and chairman-CEO Yariv Milchan announced Tuesday. The …
for an additional five years backed by Bank of America, Union Bank, SunTrust and several others for a revolving facility of up to $700 million.Carlyle Group
, working with the giant private equity firm’s Direct Lending platform for the first time. Direct Lending, with circa $5 billion in assets under management, is part of Carlyle’s Global Credit division and served as co-lead arranger. J.P. Morgan, New Regency’s lead bank for decades, is sole bookrunner, co-lead arranger and administrative agent.
“We’re looking forward to continuing our relationship with J.P. Morgan and to begin this new partnership with The Carlyle Group,” said Milchan. “Carlyle’s unique combination of deep knowledge of the film industry, flexible capital and ability to tailor a solution to meet the specific needs of our business makes them an ideal partner. This arrangement will position New Regency to continue to grow and produce high-quality, creative-driven content for audiences worldwide.
Jonathan Pearl, Managing Director of Carlyle Direct Lending, praised New Regency’s “unique library of independently produced films” and successful track record. “We look forward to supporting the company’s continued growth, particularly during this unprecedented period of economic and market volatility.“
“We are thrilled to work with The Carlyle Group to help our longstanding client, New Regency, continue to innovate and thrive,” added David Shaheen, Head of Entertainment Industries and West Region for J.P. Morgan’s Corporate Client Banking and Specialized Industries business.
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