Capital/Financing Update • May 16, 2014
Capital/Financing Update
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Saint-Denis, France - May 16, 2014 – EuropaCorp has signed with J.P. Morgan, SunTrust Bank and OneWest Bank a new USD 450,000,000 credit facility, plus a USD 100,000,000 accordion, with a term of five years to refinance the existing credit facility of EUR 105,000,000.
EuropaCorp's growth strategy and expansion into the U.S. market through its recently announced joint venture with Relativity Media has enabled the company to substantially increase the size of its existing credit facility. The facility will be used to finance EuropaCorp's slate of English language movies, as well as to fund marketing and distribution costs related to this new production.
Christophe Lambert, CEO of EuropaCorp, said: "This new credit facility illustrates the increased confidence in EuropaCorp's credit quality and financial solidity. It is a major success, as it increases significantly EuropaCorp's capacities to produce and distribute a wider range of films. After the creation of Relativity EuropaCorp Distribution USA LLC earlier this year that allowed us to fully control our distribution in the U.S. and maximize the visibility for our films, this facility finances our strategy for the next five years."
David Shaheen, Managing Director and Head of the Entertainment Industries Group at J.P. Morgan said: "We are excited to partner with EuropaCorp and help fund this increasingly global and important player in the entertainment industry. EuropaCorp's management team has demonstrated a true commitment to high caliber film production, and we are fortunate to be a part of their significant expansion into the U.S. market."
J.P. Morgan is Administrative Agent and Lead Bookrunner on the new credit facility, along with SunTrust and OneWest Bank, who partnered with JPMorgan as Joint Bookrunners and Co-Lead Arrangers.
EuropaCorp is among the top tier of European film studios. Founded in 1999, EuropaCorp's different activities include production, distribution for cinemas, home entertainment, video on-demand services, sales of TV rights for France; and following the recent opening of its first new multiplex at Roissy's 'Aéroville', the group now counts a 'Europacorp CiINEMAS' branch.
The group is also present in the sale of rights internationally, as well as the production and distribution of original soundtracks. Since 2010, the group has also been producing television fiction. EuropaCorp's integrated financial model generates revenues from a wide range of sources. With films from a wide range of genres and a strong presence in the international market, the group has produced some of the latest French worldwide record-breaking successes. In February 2014, EuropaCorp created a U.S. distribution and marketing joint venture together with Relativity, that allows EuropaCorp to fully control it distribution in the U.S. and maximize the visibility for its films.
EuropaCorp was founded by French director, screenwriter and producer Luc Besson. EuropaCorp's catalogue includes 500 films and the company employs 150 permanent staff members. For more information go to www.europacorp-corporate.com
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of \$2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com
EuropaCorp Group Image Sept [email protected] [email protected] / [email protected] T : +33 1 55 99 50 00 T : +33 1 53 70 74 70
Michael Fusco [email protected] T : 212-270-5089
Fabien Wittmann – Investor Relations Estelle Guillot-Tantay / Sylvie Ruggieri
EuropaCorp is listed on Euronext Paris – Compartment C by NYSE Euronext ISIN: FR0010490920 – Mnemonic: ECP
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