DreamWorks Film Library seeks $745 million credit facility

By Sara Rosenberg

New York, June 7 - DreamWorks Film Library is looking to get a new $745 million credit facility, according to a market source.

Dresdner is the lead bank on the deal.

The facility consists of a $645 million five-year amortizing term loan talked at Libor plus 137.5 basis points and a $100 million five-year non-amortizing term loan talked at Libor plus 187.5 bps, the source said.

The deal is being done in a club style, with no official launch scheduled to take place, the source explained.

A couple of banks have already been approached on the transaction. Institutional lenders have not yet been shown the deal, but there are plans to invite some in at a later date, the source added.

Proceeds will be used to fund the already completed acquisition of 59 DreamWorks live action films released through Sept. 15, 2005 by Soros Strategic Partners LP and Dune Entertainment II LLC from Viacom Inc. in a transaction that values the film library at $900 million.

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