Case Summary: RLJ Entertainment
$26.5 million First Out Term Loan
RLJ Entertainment, Inc. (RLJE) is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles. RLJE distributes their titles in multiple formats including broadcast television (including satellite and cable), theatrical and non-theatrical, DVD, Blu-Ray, digital download and digital streaming. The Company also owns a 64% stake in Agatha Christie Limited that manages the intellectual property and publishing rights to the majority of her works including the iconic sleuths of mystery fiction such as Miss Marple and Poirot.
The Company was seeking a more flexible capital structure than their current provider allowed for – particularly in the area of reduced mandatory debt service and increased liquidity.
Crystal Financial played a leading role in a comprehensive solution agented by McLarty Capital Partners. The $70.0 million unitranche syndicated facility was structured with significantly lower amortization levels thereby allowing the Company to utilize their cash flow to invest in content as well as expand their proprietary subscription video-on-demand (“SVOD”) services.