Bold Films has renewed and increased its revolving line of credit with Comerica Bank, a $50 million dollar debt facility that extends for three years. The deal provides financing for the independent studio to produce four to six films a year and ramp up their TV slate.
Bold’s continued success includes “Stronger” (Jake Gyllenhaal) based on the 2013 Boston bombing, which premiered at the 2017 Toronto International Film Festival to strong reviews, and released theatrically last month through LGF/Roadside Attractions.
Bold Films CFO Rob Mitchell led the credit facility deal for the company. Bold was repped by Legal Counsel Miles Mogulescu. Adam Korn handled the deal on behalf of Comerica.
“We are thrilled to continue our valued partnership with Comerica,” said Bold Films CFO Rob Mitchell. “The facility extension and expansion allows Bold to efficiently finance its production slate as we shift to produce more big budget films.”
“Bold’s prestige brand and pipeline of films along with Comerica Bank’s knowledge of film finance makes for a great partnership. We’ve had the privilege of serving as trusted advisors to Bold for more than four years and look forward to helping the company continue to grow their film and TV business,” said Adam Korn, Senior Vice President/Alternate Group Manager for Comerica.
Bold Films first entered their first deal with Comerica in 2013.