August 01, 2016
Opus Bank's Media and Entertainment Banking Division Provides Financing Solution to The Weinstein Company
IRVINE, Calif. - August 1, 2016 - Opus Bank ('Opus') (NASDAQ: OPB) announced today that its Media and Entertainment Banking division participated and funded into a $400 million senior credit facility to The Weinstein Company ('TWC'), which facility is agented by MUFG Union Bank, N. A.
TWC is an independent studio founded by Harvey and Bob Weinstein in 2005. The studio has produced films such as Django Unchained, The King's Speech, Silver Linings Playbook, and The Imitation Game, among many other Oscar winning films. The credit facility is to support TWC's business and operations.
Jeff Zaks, Senior Managing Director, Head of Media and Entertainment Banking, stated, 'We are thrilled to partner with TWC and support the growth of their active and successful company. Opus is focused on providing capital funding to mid-sized businesses, such as TWC, who share our vision to expand and grow.' Zaks concluded, 'I'm confident this early success for Opus' Media and Entertainment Banking division is an indicator of future opportunities, and that the division will continue to grow its client base and market presence.'
Michael Allison, Co-President of Opus Bank and President of Opus' Commercial Bank, stated, 'At Opus, we believe that by providing capital funding to mature, established and well run media and entertainment-related companies that are primed for disciplined and thoughtful growth and expansion, we can be a catalyst for the creation of new jobs and rebuilding of healthy, vital, and vibrant communities up and down the West Coast.'
About The Weinstein Company
The Weinstein Company (TWC) is a multimedia production and distribution company launched in October 2005 by Bob and Harvey Weinstein, the brothers who founded Miramax Films in 1979. TWC also encompasses Dimension Films, the genre label founded in 1993 by Bob Weinstein. TWC is known for films with both commercial and critical success. Films released by TWC have garnered 55 Academy Award nominations, including six nominations for Best Picture. TWC is also active in television production, with credits including the Emmy nominated and Peabody Award reality series Project Runway, spin-off series Project Accessory and Project Runway All-Stars, and the VH-1 reality series Mob Wives. TWC boasts an active television production division that garnered four Emmy nominations in 2016 and twelve Emmy nominations in 2015.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $6.1 billion of total loans, and $6.2 billion in total deposits as of June 30, 2016. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners. Opus Bank's subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with over $12 billion of custodial assets and over 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. Opus Bank operates 57 banking offices, including 33 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.
This release may include forward-looking statements related to Opus' plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as 'intend' or 'expect' or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Connect with Opus Bank
Mr. Jeff L. Leonard
SVP, Director of Communications, Opus Bank
Telephone: (949) 251-8146
Source: Opus Bank