Relativity Media secures $350 million of debt financing

By Lisa Kerner

Charlotte, N.C., May 31 - Relativity Media LLC said it closed a $350 million round of debt financing with at least a dozen banks and institutional lenders to fund its planned expansion and future film projects.

It is the first time that Relativity Media has raised secured corporate debt, according to a company news release.

Colbeck Capital advised the company and structured the deal. In addition, Colbeck is "a significant participant" in the overall transaction.

Ron Burkle continues to be a significant equity holder in the company and an anchor investor in the deal through Colbeck.

As part of the financing transaction, a new board of directors was created. It is majority controlled by company chief executive officer Ryan Kavanaugh and includes Burkle and Colbeck partners Jason Colodne and Jason Beckman.

MESA Global advised on the capital raised.

Relativity Media is a film studio based in Beverly Hills, Calif.

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