London: October 11, 2011 – StormHarbour Securities, a leading independent global markets and financial advisory firm, announces today that it has successfully raised financing from institutional investors as part of a pioneering slate financing between Anton Capital Entertainment and STUDIOCANAL, the pan-European film, production and sales distribution arm of French media group, Canal+.
Anton Capital, the media-focused merchant banking boutique which advises Anton Capital Entertainment, mandated StormHarbour to place the equity and junior debt tranche and its success in doing so underscores the strength of the firm’s global distribution capability among institutional investors.
The €150m ($204m) slate financing will enable Anton Capital Entertainment, a European-based media fund, and STUDIOCANAL to co-finance the international films the studio distributes over the next three years. It is the first time a European studio has been able to secure slate financing, and marks the first slate financing by any studio for several years.
StormHarbour and Anton Capital will look to work together even more closely on future financings in this sector and build a long term relationship. StormHarbour’s global distribution capability is complimented by its experience and expertise in complex financial advisory and structuring situations.
Sébastien Raybaud, Founding Partner of Anton Capital, commented: “We are very proud to be part of this landmark transaction. For the first time, European institutional investors are backing a slate financing, and one which is focused on Europe. StormHarbour were instrumental in sourcing and placing the equity tranche with institutional investors, and we look forward to working with them again on future financings.”
Stephane Marchi, Co-Head of Infrastructure and Asset Finance for Europe at StormHarbour Securities in London, added: “StormHarbour is privileged to have worked with Anton Capital on this pioneering financing which not only provides a benchmark and blueprint for future deals in Europe but enables European institutional investors to gain exposure to a compelling industry sector. We believe that the Anton Capital team is one of the most sophisticated and professional in the media space today and that they will continue to lead their market. We very much look forward to strengthening further our collaboration with them in the near future.”
Under the terms of the financing, Anton Capital Entertainment will finance 30% of the STUDIOCANAL’s releases providing the studio with additional capital to grow its multi-territory distribution model. The cumulative investment by STUDIOCANAL and Anton Capital Entertainment is expected to reach €500m over three years and include about 100 films.
Anton Capital Entertainment’s financing was arranged by Anton Capital and provided by undisclosed European institutional investors, US-based Falcon Investment Advisors, as well as Union Bank and Bank of America. STUDIOCANAL’s latest fully financed film is the cold-war thriller Tinker, Tailor, Soldier, Spy.
Sohail Khan, a Managing Principal of StormHarbour Securities, said: “This is yet another significant transaction for StormHarbour which plays directly to our strengths as a firm that has substantial capability to source and place capital among leading institutional investors. This capability, together with our deep experience and expertise in complex financial advisory and structuring situations, enables us to create and execute best-in-class solutions for clients.”