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Indie Film Company Nabs $350MM from Lending Syndicate Led by J.P. Morgan

September 06, 2017, 08:00 AM
Filed Under: Entertainment

Annapurna Pictures, an independent film production company led by Megan Ellison — the daughter of Oracle Chief Executive Larry Ellison — has secured a $350 million revolving credit facility, according to multiple news sources. 

J.P. Morgan served as administrative agent and sole bookrunner for the new credit line, along with Comerica Bank. Other parties included City National Bank, First Republic Bank, HSBC, MUFG Union Bank, SunTrust Bank and Wells Fargo.

Annapurna Pictures is best known for producing the Oscar nominated films Zero Dark Thirty (2012), Her (2013), and American Hustle (2013). According to reports, Ellison  will use the new cash infusion to expand her company's reach into television and video games, among other things. 

“We are grateful for J.P. Morgan and our entire bank group’s confidence in Annapurna. Their backing, along with that of the many partners who have joined us this year, is validation of the platform Megan and our team have built, and we’re excited to have their support of our continued growth,” said Annapurna CFO Josh Small, on a statement.

“We are excited to provide financial support and industry expertise to Annapurna as they continue to build upon their success story,” said David Shaheen, managing director and head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking group. “The enthusiasm shown from the entertainment banking community is a testament to what the company has accomplished.”

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