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Marvel Secures All $525 Million For Film Slate

The following was originally posted on Newsarama.com:

Marvel Entertainment, Inc. (NYSE: MVL) announced today that it has satisfied all funding requirements under the Company's previously announced $525 million non-recourse credit facility and has begun borrowing from the facility to finance its first self-produced and financed feature film, Iron Man. Additionally, Marvel has finalized distribution deals for Iron Man and The Incredible Hulk in the international territories for which it controls distribution rights. Paramount Pictures will distribute Iron Man and Universal Pictures will distribute The Incredible Hulk in North America and all other international territories. Iron Man is scheduled to be released May 2, 2008, kicking off the Summer 2008 movie season with The Incredible Hulk scheduled to follow in June of 2008.

On the distribution side, Marvel Studios has secured agreements with top international distributors for Iron Man and The Incredible Hulk. As previously announced, Paramount will distribute Iron Man and Universal Studios will distribute The Incredible Hulk in North America and in all other international territories.

MVL Film Finance LLC, a special purpose, bankruptcy-remote indirect subsidiary of Marvel is the borrower under the facility. The borrowings are non-recourse to Marvel Entertainment and its other affiliates.

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