Daily News: June 17, 2014

GE Capital Agents Southern Theatres Credit Facility


GE Capital’s Telecom, Media and Technology financing business announced it served as administrative agent on a $12 million incremental credit facility increase to Southern Theatres.

GE Capital’s Telecom, Media and Technology financing business announced it served as administrative agent on a $12 million incremental credit facility increase to Southern Theatres. The total credit facility for Southern Theaters is now $92 million. GE Capital Markets served as lead arranger and joint bookrunner on this facility.

The incremental line increase will be used to fund the build out of several new Movie Tavern locations in the southeastern U.S. and Pennsylvania.

“Last September, GE Capital agented a facility to support Southern Theatres’ acquisition of Movie Tavern, a premier cinema eatery circuit. We’re thrilled to work again with the company and its private equity owner, Veronis Suhler Stevenson, to support its continued success and growth,” said Tim Huban, a managing director with GE Capital’s TMT business.

New Orleans-based Southern Theatres was formed in 2002 by Solomon, a theatre industry veteran, to develop and operate multiplex, stadium-seating movie theatres in small-to-mid-size markets across the southeastern United States.