Cannes: EuropaCorp Signs $450M Credit Facility To Finance English-Language Pics

Luc Besson‘s EuropaCorp has signed with J.P. Morgan, SunTrust Bank and OneWest Bank on a five-year, $450M credit facility. The line, along with a $100M accordion, will be used to finance the studio’s existing credit facility of 105M euros. This is part of EuropaCorp’s plan to expand and will be used to finance a slate of English-language films to be released through its joint distribution venture with Relativity which was formed earlier this year. It will also fund Europacorp’s marketing spend on its projects. Plans are to go from releasing three to eight movies per year. The studio will also make four French-language pics per annum. (more…)