Siena Lending Group, a provider of asset-based credit solutions, and Hilco Global, a diversified financial services company, closed a $130 million financing transaction with Panavision, a global company in motion picture and television production services and equipment.
Siena served as agent and sole bookrunner for the facility, with Hilco acting as documentation agent and collateral monitoring agent. Under the terms of the facility, Siena will hold $80 million of the total $130 million financing, with Hilco holding the remaining $50 million. The revolving credit facility, secured by current and fixed assets, enhances the company’s existing revolving debt by providing incremental liquidity and financial flexibility to drive future growth.
“Panavision is an industry leader, delivering state-of-the-art equipment along with bespoke services and solutions to filmmakers,” Todd Eubanks, CRO of Siena, said. “We look forward to expanding our financial partnership with Panavision and supporting its strong management team’s execution of growth objectives.”
Dan Rubin, managing director of asset management at Hilco Global, added, “The filmmaking industry continues to face evolving production and supply chain demands. It was important to work closely with the company and Siena to create a flexible financing structure that supports long-term investment across Panavision’s global platform. As a leading innovator and trusted equipment and service provider to the industry, Panavision is well positioned for continued success, and we are pleased to support the company.”
Kim Snyder, president and CEO of Panavision, said, “Panavision has built its reputation on delivering the tools, expertise and innovation filmmakers trust to bring their creative visions to life. Siena and Hilco share our long-term vision for this business and our excitement for the future. Their trusted partnership is foundational for Panavision’s growth. We look forward to investing in the technology and service excellence that will define our next chapter.”
