Are happy days here again in Hollywood? After several years of suffering through the credit market squeeze, movie companies now believe the economic crisis has eased enough so that they’re looking for and finding better terms for financing. Which is why NYC financial circles tell me that Thomas Tull’s Legendary Pictures is seeking to secure a $700 million line of credit from 2013 out to 2016 or even 2017. Its current credit facility doesn’t expire until 2013 — the same year that Legendary’s current distribution and financing arrangement with Warner Bros ends — “but the feeling is that now there are really favorable terms.” Right now banks and institutional lenders are being approached to participate and investment presentations are being put together for the next few weeks. JP Morgan, which has a long relationship with Legendary, is expected to lead this round of financing.
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