DreamWorks should be fully financed in the next two months, a source close to the studio tells us.
The studio has already raised $150 million of the $325 million in debt financing it has been trying to lock down since it flew the Via-coop last fall. By May, DreamWorks will have syndicated the additional $175 million in debt, at which point its backers at Reliance will invest $325 million in equity with the company.
Our source told us that the studio’s financing is moving forward and on track to be completed in the next two months. That’s a bit later than DreamWorks had been projecting; originally it hoped to have the debt syndicated by the end of Q1, which is March 31.
The $325 million is also less than DreamWorks had hoped to raise before the markets collapsed this fall. It was initially planning to raise $550 million in debt and have Reliance contribute the same amount in equity.
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