J.P. Morgan, Comerica Provide OddLot $50MM Revolver
OddLot Entertainment announced that it closed a $50 million revolving credit facility with J.P. Morgan and Comerica as co-lead arrangers. The facility can be increased up to $150 million. Proceeds will be used to finance the development and production of current and upcoming projects under the OddLot Entertainment production banner.
OddLot’s co-president, Bill Lischak, led the deal on behalf of the company, along with Natalya Petrosova, who was promoted to EVP of Finance of the company where she has been employed for eight years, and Aaron Michiel, OddLot’s EVP of business and legal affairs.
Gigi Pritzker, OddLot’s CEO and founder, stated, “We’re so pleased to be in business with J.P. Morgan and our long-time banking partner, Comerica Bank. This arrangement positions the company for growth, and we look forward to much activity going forward.”
OddLot is currently co-producing Ivan Reitman’s “Draft Day,” starring Kevin Costner, which will be released by Summit Entertainment on April 11, 2014; “Mortdecai,” starring Johnny Depp, Gwyneth Paltrow, Ewan McGregor, Olivia Munn and Paul Bettany, which Lionsgate will release; and Jon Stewart’s upcoming directorial debut: “Rosewater.”
Petrosova joined OddLot in 2006 as the SVP of Finance. Petrosova is the key executive responsible for arranging and executing OddLot’s production financing and directing all company financial accounting and reporting. Most recently, Natalya was instrumental in analyzing and structuring finance plans for “Drive,” “The Way Way Back,” “Ender’s Game,” “Rosewater,” “Draft Day” and “Mortdecai,” including taking the lead role in securing U.S. and international production-related tax credits and rebates. Prior to joining OddLot, Natalya was a finance manager for Activision where she led the worldwide system implementation of financial planning applications and provided industry-related financial analysis. Natalya began her career with Artisan Entertainment where she was a senior financial analyst.
Los Angeles-based OddLot Entertainment is a film and television production company that develops, produces, finances and arranges distribution for domestic and international markets.