IDT Entertainment gets $125 million revolver

By Sara Rosenberg

New York, Dec. 5 - IDT Entertainment closed on a new $125 million 51/2-year secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Monday.

JPMorgan was the lead bank on the deal.

Borrowings will carry an interest rate of Libor plus 250 basis points.

Proceeds will be used to fund part of the production and marketing costs of IDT Entertainment's first six CG (computer-generated) animated feature films.

Security is a slate of CG animated feature films.

IDT Entertainment is a Newark, N.J.-based entertainment company.

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