Special effects firm receives direct loan from Pemberton

Cinesite Studios, which has created effects for major films including Fantastic Beasts & Where to Find Them, has borrowed a total of $70m.

Pemberton has arranged a $70 million finance package for an animation and visual effects company that has worked on titles including Game of Thrones and Harry Potter.

The debt fund manager has arranged a package of debt provision for London-based Cinesite Studios, which produces special effects for the film and television industries.

The firm has been provided with an initial $40 million for general funding and acquisition finance. Pemberton has also agreed to provide a further $26 million of flexible facilities alongside UK bank Barclays Corporate Banking, while Barclays will also provide a $4 million revolving credit facility.

Cinesite has generated 40 percent year-on-year revenue growth since 2014 and plans to use the finance package to seek new partnerships with various studios and filmmakers.

Eric Capp, head of UK origination at Pemberton, said: “Cinesite has rightfully earnt a reputation as a studio with strong creative and technical capabilities. The Cinesite management team has successfully leveraged the company’s capabilities to deliver sustained, impressive growth.”

Cinesite was advised on the deal by debt advisory firm Tomorrow Partners.