Legendary Entertainment, co-producer of the “Dark Knight” and “Hangover” movies, raised $275 million in debt and equity financing to fund new projects and reduce existing debt.
The money includes $128 million from current equity holders including Accel Partners, IDG Capital Partners and, investing as a private individual, Gordon Crawford, senior vice president of Capital Research Global Investors, Burbank, California-based Legendary said today in an e-mailed statement.
Legendary is co-financing and co-producing partner with Time Warner Inc.’s Warner Bros. studio for films that include the Batman sequel “The Dark Knight Rises,” scheduled for release in July. The money will be used to retire debt from a 2010 recapitalization, Legendary said.
The debt portion of the financing was arranged by JPMorgan Chase & Co., Bank of America Corp., Royal Bank of Canada and UBS AG, Legendary said.