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RatPac Entertainment Secures $150M Credit Line To Support Warner Bros Films

Bank of America Merrill Lynch led the campaign to back the $150 million credit facility that director Brett Ratner and Australian mogul James Packer can tap to help fund upcoming Warner Bros. releases. With the new facility, Ratner and Packer’s RatPac Entertainment has $225 million at its disposal for the films.

The credit facility “is critical to RatPac’s key partnership with Warner Bros. and we will continue to work hard to deepen and strengthen this relationship in the future,” Packer says. Ratner adds that the bank support will help RatPac’s effort to become “a global media and entertainment brand.”

Boa’s Daniel Timmons, at its Entertainment Industries Group, led the new financing effort. The bank is the sole arranger and administrative agent for the credit facility. Other backers include SunTrust Bank, Union Bank, and City National Bank.
See full article at Deadline Movie News »

Bank of America's Entertainment Division Promotes Two Executives

  • The Wrap
Bank of America Merrill Lynch has promoted Brian Stearns and Daniel Timmons to the newly created roles as co-heads of the Entertainment Industries coverage unit, it was announced on Tuesday. The duo is responsible for portfolio strategy, client coverage, credit execution and risk management in addition to advising clients on capital structure alternatives. The announcement comes as the entertainment sector for Bank of America Merrill Lynch is experiencing strong growth. The company recently led transactions totaling more than $3 billion for such clients as CAA, Open Road Films, Dune Entertainment, Legendary Pictures,
See full article at The Wrap »

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