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Opus Bank Participates in $400MM Credit Facility to the Weinstein Company

August 01, 2016, 08:33 AM
Filed Under: Media

Opus Bank announced that its Media and Entertainment Banking division participated and funded into a $400 million senior credit facility to The Weinstein Company (“TWC”), which facility is agented by MUFG Union Bank, N. A.

TWC is an independent studio founded by Harvey and Bob Weinstein in 2005. The studio has produced films such as Django Unchained, The King’s Speech, Silver Linings Playbook, and The Imitation Game, among many other Oscar winning films. The credit facility is to support TWC’s business and operations.

Jeff Zaks, Senior Managing Director, Head of Media and Entertainment Banking, stated, “We are thrilled to partner with TWC and support the growth of their active and successful company. Opus is focused on providing capital funding to mid-sized businesses, such as TWC, who share our vision to expand and grow.” Zaks concluded, “I’m confident this early success for Opus’ Media and Entertainment Banking division is an indicator of future opportunities, and that the division will continue to grow its client base and market presence.”

Michael Allison, Co-President of Opus Bank and President of Opus’ Commercial Bank, stated, “At Opus, we believe that by providing capital funding to mature, established and well run media and entertainment-related companies that are primed for disciplined and thoughtful growth and expansion, we can be a catalyst for the creation of new jobs and rebuilding of healthy, vital, and vibrant communities up and down the West Coast.”

The Weinstein Company (TWC) is a multimedia production and distribution company launched in October 2005 by Bob and Harvey Weinstein, the brothers who founded Miramax Films in 1979. TWC also encompasses Dimension Films, the genre label founded in 1993 by Bob Weinstein. TWC is known for films with both commercial and critical success. Films released by TWC have garnered 55 Academy Award nominations, including six nominations for Best Picture.

Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $6.1 billion of total loans, and $6.2 billion in total deposits as of June 30, 2016. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender.

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