Miramax secures cash for TV and film production

Miramax has completed a US$250 million bond offering and secured a new credit line.

The US producer and distributor said it will use the proceeds, in part, to invest in new TV and film content.

The new credit line and bond offering, secured against Miramax’s deep film library, will allow it to ramp up production. Its recent TV offerings include Dusk Till Dawn: The Series. It is also making a Good Will Hunting TV series with The Weinstein Company.

With its refinancing complete, Miramax chairman Thomas J. Barrack, Jr. said: “We appreciate that the market recognises Miramax’s quality of content, combined with the consistency, length, diversity and credit quality of contractual income streams, and we look forward to putting these additional funds to work as we grow new production in line with the powerful Miramax brand.”