Parasite distributor Neon on Wednesday said it has signed a revolving credit facility with Japan's MUFG Union Bank. A Neon spokesperson declined to disclose the size of the credit line but added it was "significant." The move to raise fresh debt follows Neon securing a best picture Oscar victory for Bong Joon Ho's Parasite.
Neon said it will use the capital from MUFG Bank to continue building out its film business and to expand its production slate.
The company in April promoted Elissa Federoff and Christina Zisa to president of distribution and president of publicity, respectively.
The indie distributor's releases include I, Tonya and the documentaries Apollo 11 and Three Identical Strangers. Tom Quinn, Jessica Nickelsberg, Jeff Deutchman.
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