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Lionsgate Secures $110M in Slate Financing

Financing comes from JP Morgan-led consortium.

Lionsgate has secured $110 million in movie-slate financing from a consortium of banks led by JP Morgan Chase.

In an 8K regulatory filing made Tuesday, officials for the Vancouver-based studio said the slate fund, which spans 3 ½ years, could grow to as much as $200 million if new lenders come on board or existing ones increase their commitments.

Other financial institutions contributing to the facility include Union Bank and Wells Fargo.

Covering an unspecified number of films, the facility's interest rate will be LIBOR-based and is separate from the five-year, $340 million credit facility Lionsgate already has with JP Morgan.

The studio is set to release 11 movies this year and 14 in 2011.