Closes $1B Credit Facility Led By J.P. Morgan
Summary
Skydance Media has closed a new five-year, $1 billion credit facility led by J.P. Morgan, doubling the amount of a prior credit arrangement led by the financial institution.David Ellisons co-finance and production house is poised for a high point Wednesday with the global release of Mission: Impossible Dead Reckoning Part One, which is on track for franchise-record box office.The new credit facility extends the companys long-term relationship with J.P. Morgan. In announcing the new facility, Skydance also noted a recent $400 million investment round valuing the company at more than $4 billion. That round was led by KKR and the Ellison family and joined by existing investors RedBird Capital Partners and Tencent.Along with the Mission: Impossible franchise, Skydance has backed Top Gun: Maverick as well as popular streaming films like Ghosted on Apple TV+, The Tomorrow War on Prime Video and Netflixs The Old Guard and The Adam Project. This facility and the immense support from the entertainment banking community stand as a true testament to the strength of their business and quality content across platforms.Wasserman said the company remains focused on the massive opportunity ahead of us to sustain and enhance our growth. With J.P. Morgans support, he added, our forward-thinking business structure, and an unmatched network of partners, we are well-positioned to continue bringing global entertainment to new heights.The negotiation and execution of the facility was handled by Skydance General Counsel, Stephanie McKinnon, and VP Corporate Counsel, Jaega Haralambus.