Bank of America Merrill Lynch led the campaign to back the $150 million credit facility that director Brett Ratner and Australian mogul James Packer can tap to help fund upcoming Warner Bros. releases. With the new facility, Ratner and Packer’sRatPac Entertainment has $225 million at its disposal for the films.
The credit facility “is critical to RatPac’s key partnership with Warner Bros. and we will continue to work hard to deepen and strengthen this relationship in the future,” Packer says. Ratner adds that the bank support will help RatPac’s effort to become “a global media and entertainment brand.”
BOA’s Daniel Timmons, at its Entertainment Industries Group, led the new financing effort. The bank is the sole arranger and administrative agent for the credit facility. Other backers include SunTrust Bank, Union Bank, and City National Bank.