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JPMorgan Provides Skydance With New $1 Billion Credit Facility
July 12, 2023
Source: The Wrap
The new infusion replaces a four-year, $500 million revolving credit line established in 2020
David Ellison’s Skydance Media has closed a new five-year, $1 billion credit facility led by J.P. Morgan, Skydance CFO & EVP of Business Operations, Larry Wasserman and Head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking Group, David Shaheen, announced on Tuesday.
The facility builds upon the company’s longstanding relationship with J.P. Morgan and replaces its 2020 four-year, $500 million revolving credit facility.
In addition to working with J.P. Morgan, Skydance’s robust capital structure is supported by a recent $400 million investment round, led by KKR and the Ellison family and joined by existing investors RedBird Capital Partners and Tencent, which valued the 1irm at over $4 billion.
“We’re incredibly proud to build upon our longstanding relationship with Skydance Media as they continue to grow,” said David Shaheen, Head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking Group. “This facility and the immense support from the entertainment banking community stand as a true testament to the strength of their business and quality content across platforms.”
“Over the past 13 years, Skydance has become an industry leader, and our focus remains on the massive opportunity ahead of us to sustain and enhance our growth,” said Wasserman. “With J.P. Morgan’s continued support, our forward-thinking business structure, and an unmatched network of partners, we are well-positioned to continue bringing global entertainment to new heights.”
David Ellison’s Skydance Media has closed a new five-year, $1 billion credit facility led by J.P. Morgan, Skydance CFO & EVP of Business Operations, Larry Wasserman and Head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking Group, David Shaheen, announced on Tuesday.
The facility builds upon the company’s longstanding relationship with J.P. Morgan and replaces its 2020 four-year, $500 million revolving credit facility.
In addition to working with J.P. Morgan, Skydance’s robust capital structure is supported by a recent $400 million investment round, led by KKR and the Ellison family and joined by existing investors RedBird Capital Partners and Tencent, which valued the 1irm at over $4 billion.
“We’re incredibly proud to build upon our longstanding relationship with Skydance Media as they continue to grow,” said David Shaheen, Head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking Group. “This facility and the immense support from the entertainment banking community stand as a true testament to the strength of their business and quality content across platforms.”
“Over the past 13 years, Skydance has become an industry leader, and our focus remains on the massive opportunity ahead of us to sustain and enhance our growth,” said Wasserman. “With J.P. Morgan’s continued support, our forward-thinking business structure, and an unmatched network of partners, we are well-positioned to continue bringing global entertainment to new heights.”
