120dB Films Closes $107 Million Capital Facility with Fortune 500 Insurance Company

SOUTH SALEM, N.Y.--(BUSINESS WIRE)-- 120dB Film Finance, LLC(“120dB Films”) has closed a US$107 million fund (the “Fund”), capitalized primarily by a Fortune 500 property casualty insurance company. An affiliate of 120dB Films will act as portfolio manager for the Fund, with responsibility for sourcing and closing film finance loans. The Fund will substantially increase 120dB Films’ capital base and introduce a material reduction in lending rates across all products, while maintaining 120dB Films’ high level of service. The Fund expects to compete directly with the larger boutique lenders and commercial banks in securing entertainment loan opportunities.

“We believe that 120dB Films has distinguished itself over the past 7 years by offering premium, personalized service to our borrowers, and we have closed over 60 film loans since inception,” said Stephen Hays, founder and Managing Member. “The Fund closing is a milestone in our evolution and will result in much more competitively priced loans, while retaining the highly attentive service that has become our trademark.”

"While we have never turned away an attractive loan due to size, the substantial resources now available through our new Fund, combined with reduced borrowing rates, should lead to a strong increase in loan volume,” said Peter Graham, 120dB Films Managing Member. “We will continue to bring our risk-oriented approach to loan underwriting, and expect to maintain the same sort of flexibility and speed that has made us popular with so many borrowers.”

120dB Films has been particularly active in recent years closing production loans for such films as “Henry’s Crime” (Keanu Reeves, James Caan, Vera Farmiga); “Little Murder” (Terrence Howard, Josh Lucas); “The Experiment” (Forest Whitaker); “What Maisie Knew” (Julianne Moore); “Bachelorette” (Kirsten Dunst); “Liberal Arts” (Zac Efron, Elizabeth Olsen); and “Foreverland” (Juliette Lewis, Jason Priestley). Other recently completed projects include Bruce Beresford’s “Peace, Love and Misunderstanding” (Toronto Film Festival, 2011); “Vamps” (directed by Amy Heckerling starring Alicia Silverstone); Vera Farmiga’s directorial debut, “Higher Ground” (Sony Pictures Classics, 2011); and “Dirty Girl” with Juno Temple (The Weinstein Company, 2011). 120dB Films’ television loans have included Seasons 1 and 2 for the TNT series “Leverage” (Timothy Hutton) and Season 1 for “True Justice” (Stephen Seagal).

About 102dB Films Finance, LLC

120dB Films is a finance company that has specialized in making senior secured loans to the entertainment industry. Founded in 2004, the company has closed in excess of 60 financings providing Gap, Presale, Tax Credit, P&A, Bridge and Finish Fund loans to independent filmmakers and television producers. 120dB Films is managed by Stephen Hays, a New York-based former hedge fund executive, and Peter Graham, a veteran entertainment banker based in Los Angeles, with 21 years of lending experience.

120dB Film Finance, LLCStephen Hays, +646-872-1293
[email protected]

Source: 120dB Film Finance, LLC