BondIt Media Capital Closes $100 Million Credit Facility From Keystone National Group
June 27, 2024
Source: Variety
Film, television and media financing firm BondIt Media Capital has closed a new credit facility of $60 million with the option to increase to $100 million, from Keystone National Group, a private credit fund and investment advisory firm.
The new facility is aimed at refinancing an existing credit facility, that has been a key factor in BondIt’s growth over the last six years.
Suman Mallick and Chris Gilker, Keystone managing directors, have previously worked with the BondIt team to make strategic moves regarding opportunities in film, TV and media following the 2023 SAG and WGA strikes.
“Despite having to navigate through a series of challenges in recent years including industry strikes and interest rate increases, not to mention the pandemic, the BondIt team has continued to build a high-quality portfolio of projects and a sterling reputation in the industry,” Mallick and Gilker wrote in a joint statement. “We are excited to invest in them again and are confident that with this transaction, they will continue to grow and achieve higher levels of success.”
Bondit’s sister company is Buffalo 8, bolstering their combined capabilities in financing, pst-production, distribution and packaging.