Neon, the indie distributor known for its success with films like Parasite and Sean Baker’s Anora, has secured a $200 million credit facility with a lending consortium led by Comerica Bank.
The new financing will support the expansion of Neon’s operations, including film acquisition, development, production, and distribution, as well as help the studio venture into new international markets. This follows a 2022 deal where Neon obtained a revolving credit facility with Comerica to further expand its previous credit arrangements.
The credit facility will also fuel Neon’s production efforts, with a slate of upcoming projects such as Boots Riley’s I Love Boosters, starring Keke Palmer and LaKeith Stanfield, and They Follow, the sequel to It Follows. Additional releases include Splitsville by Michael Covino, starring Dakota Johnson, and films like The Seed of the Sacred Fig by Mohammad Rasoulof and The End by Josh Oppenheimer.
Neon’s recent successes include Anora, which won the Palme d’Or at Cannes, and the horror film Longlegs, which grossed around $75 million at the U.S. box office.
Peoplesmind
