EXCLUSIVE: Bold Films has established its first revolving credit line with Comerica Bank, a $35 million debt facility that will cover an expanding slate of features. It allows Bold to step up and finance The Coup, an action thriller that will shoot in Thailand in November, with Owen Wilson and Pierce Brosnan starring. The Coup, written by brothers Drew Dowdle and John Erick Dowdle and directed by John Erick Dowdle, is the story of an American expatriate businessman in a third world city who gets caught in the middle of a violent revolution. He must flee to safety with his wife and two small children while being hunted by a murderous rebel leader. Bold Films’ Michel Litvak and David Lancaster will produce with Gary Michael Walters serving as executive producer. Drew Dowdle will also produce the film.
The film was originally put together to be financed by Crime Scene Pictures. The first film covered by the Comerica facility is How To Catch A Monster, the film that marks the writing and directorial debut of actor Ryan Gosling. Christina Hendricks, Saiorse Ronan, Eva Mendes, Matt Smith and Ben Mendelsohn starred in a film that recently wrapped production in Detroit. Warner Bros will distribute the film domestically.
Bold will next finance Nightcrawler, the dark thriller that stars Jake Gyllenhaal and Rene Russo. Bold’s Litvak and Lancaster will produce, with Walters exec producing. Jennifer Fox, Tony Gilroy and Gyllenhaal are also producers on a film that shoots in October with Gyllenhaal playing a driven young man who discovers the nocturnal world of L.A. freelance crime journalism.
Bold plans to produce four to six films a year. Bold Films co-president Walters said in a statement: “As we ramp up our production activity, this facility will maximize the leverage on our equity and the ultimates component will allow us to realize domestic revenues much more quickly.”
Added co-president Lancaster: “Standardizing our loan structure and getting volume discounts on our financing costs will accelerate our ability to mount our productions efficiently.”
Company CFO Rob Mitchell spearheaded the deal on Bold’s behalf. Miles Mogulescu handled legal end of the deal. Adam Korn and Jacqueline Vega handled the deal for Comerica.
“This facility was a natural progression for Bold Films as they continue to grow their business for the long term,” said Comerica’s Korn.
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