Skydance Media has set a substantial refinancing, closing a four-year revolving credit facility worth up to $1 billion.The facility, led by J.P.
Morgan, is initially valued at $500 million but Skydance will have the ability to double it, according to president and COO Jesse Sisgold.In announcing the arrangement, the film and TV company said the refinancing was oversubscribed based on its track record and prospects.
Founded in 2010 by David Ellison, Skydance has backed a notable roster of feature and series titles, including Netflix films The Old Guard and 6 Underground, studio releases like installments in the Mission: Impossible franchise and shows like Grace & Frankie.
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