Summit Entertainment to get $800 million credit facility led by JPM

By Sara Rosenberg

New York, Jan. 19 - Summit Entertainment LLC is planning a new $800 million senior secured credit facility (B1), according to a market source.

JPMorgan is the lead bank on the deal.

The facility consists of a $200 million five-year revolver and a $600 million seven-year term loan, the source said.

Proceeds will be used to repay existing debt, for working capital needs and general corporate purposes and to fund a dividend.

Summit Entertainment is a Santa Monica, Calif.-based independent film studio.

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