Neon Closes New $200 Million Credit Facility Led by Comerica Bank

variety.com:

Matt Donnelly Senior Film Writer Oscar-winning indie studio Neon has secured a new $200 million credit facility, flushing the company with cash for operations and growth.

The infusion, which could keep “Anora” star Mikey Madison in lucite platform heels until the end of time, is led by Neon’s existing credit provider Comerica Bank.

The raise will contribute to film acquisition, development, production, distribution and market expansion, Neon said Monday. “Comerica believes in the vision of Neon and couldn’t be more thrilled to support their continued growth.

Their ability to identify and curate film, while finding innovative ways to connect audiences with cinema, is unmatched,” said Comerica Entertainment Group SVP Derek Riedel, adding that the “independent film landscape is a core pillar of our business and we are excited about the future.” Riedel oversaw the transaction for the bank, with Neon chief financial officer Ryan Friscia negotiating on the studio side.