Steven Spielberg's DreamWorks studio is set to take the niche market of film securitisation to new heights with a $1bn deal backed by future revenues from the company's existing and future library of films. Co-arranged by FleetBoston Financial and JP Morgan and wrapped by triple-A insurer Ambac Assurance, the deal will be funded through the asset backed commercial paper markets. It is part of a $1.5bn package - including a $500m revolving credit facility arranged by JP Morgan - designed to replace DreamWorks' existing financing with debt maturing in October 2007.
August 30, 2002
