Film Financer Three Point Capital, TPC, Closes $100M Credit Facility – CB

Three Level Capital has closed on a $100 million revolving credit score facility with Mitsubishi UFJ Monetary Group (MUFG). The unbiased movie financier, which was acquired final 12 months by Forest Highway, has additionally rebranded as TPC.

Forest Highway is almost all proprietor of distributor Vertical Leisure.

David Gendron, TPC and co-founder, mentioned the new facility — which closed final month — will permit it to finance both partly or, extra typically now, completely, about 60 movies a 12 months with budgets within the $1 million to $20 million vary, with a “candy spot” of $4-$5 million.

TPC, which launched in 2009 and helped finance movies together with The Butler and Manchester By The Sea, is totally financing upcoming Deserted, with Vertical, in addition to Clerks III and Mel Gibson-starrer On The Line. It’s a financier of thriller Hello Stranger with Sam Worthington, Jordana Brewster, Robbie Amell and Alicia Sanz, presently in post-production.

Vertical, as CB reported, is increasing into movie manufacturing and plans to launch 5 to eight movies a 12 months with TPC. With numerous unannounced initiatives in growth and pre- and post-production, the indie distributor has hopes to scale as much as 10 to initiatives a 12 months, whereas releasing a various slate of accomplished, third-party movie acquisitions.

TPC additionally has a large enterprise advising, accounting and brokering for tax credit.

MUFG’s U.S. business financial institution, one of many largest lenders to Hollywood, was previously underneath the identify Union Financial institution.

Source: celebritiesbuzz.com.gh

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