By Ray Pride Pride@moviecitynews.com

Lakeshore Ent Reups Financing, $250 Million For Another 5 Years

Posted Monday, May 8th, 2017 - Comments Off on Lakeshore Ent Reups Financing, $250 Million For Another 5 Years
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[PR] LAKESHORE ENTERTAINMENT REUPS FINANCING

 JPMORGAN, VINE, AND ALL EXISTING CAPITAL PARTNERS RECOMMIT TO OVER $250 MILLION FOR ANOTHER 5 YEARS.

LOS ANGELES, CA – Lakeshore Entertainment Group announced today that it has closed the fourth iteration of its revolving credit facility since the company began in 1994.  JPMorgan again led the deal as Sole Bookrunner and Administrative Agent, alongside Bank of America and all existing capital partners, which provides a further five year agreement.  Unusually, the transaction never made it to the open capital markets, because Lakeshore’s current group of 10 banks all recommitted early to the new facility, most in amounts exceeding their prior commitments.  The renewed facility provides financing for Lakeshore’s film production slate and P&A activities, as well as a new television arm and ongoing corporate capital.

In addition, Lakeshore also renewed three significant transactions withVine Alternative Investments, the NY-based private equity firm. An investor in Lakeshore’s corporate capital structure for several years, Vine has recommitted its mezzanine financing to the company, extended the previous agreement to co-finance a 12-picture slate, as well as its foreign sales agency partnership.

“JPMorgan, Bank of America and our bank group are highly valued long-term partners to Lakeshore.  We very much appreciate their decades of support,” commented CEO Tom Rosenberg, “and Vine continues to be among the most important and creative financiers in Hollywood.  Their understanding of our business allows us to work shoulder-to-shoulder to navigate the entertainment landscape.”

“The extremely strong reception from the Lakeshore’s financing syndicate is a testament to the quality and integrity of Tom Rosenberg and the Lakeshore management team, and to the entire Lakeshore business,” commented David Shaheen, Head of JPMorgan’s Entertainment Industries Group. “This latest refinancing positions Lakeshore to capitalize on further growth opportunities in their business.”

“Vine remains proud to call Lakeshore our partners,” said Vine CEO Jim Moore.  “Their growth and success is a testament to their creative and business talents, and we are excited to continue this path forward together.”

Lakeshore Entertainment’s COO, Eric Reid, and CFO, Marc Reid, arranged the financing on behalf of the company.

Lakeshore has a number films in stages of development, preproduction and post.  The company has one television show airing January 2018 (Paramount TV’s “Heathers”) and plans to have another in production by the end of 2017.  Lakeshore’s digital film division, Off The Dock, is one of the leading digital film production studios currently in the industry, and has multiple films in development, production and release. 

About Lakeshore Entertainment

Lakeshore Entertainment is a leading independent motion picture production, distribution and international sales company. Founded in 1994 by Tom Rosenberg, Lakeshore has produced over 70 theatrical films of bringing entertainment to a wide range of audiences worldwide – from the Academy Award-Winning Million Dollar Baby, to the hugely successful Underworld film franchise.  Lakeshore Entertainment continues to expand its entertainment reach beyond theatrical motion pictures into television and digital entertainment content.

About Vine Alternative Investments

Vine was founded in late 2006 as a specialized asset manager that focuses on unique, non-correlated investment opportunities in the media and entertainment sector. The Firm is headquartered in New York with a presence in Los Angeles. Since its founding, the Firm has closed 20+ transactions and invested more than $900 million of capital in the media and entertainment sector. Vine was established on the principle that successful investing in the sector is driven by focus, attention to detail, and a highly disciplined approach.

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