Digital cinema solutions provider XDC has secured a €100mn (US$122mn) credit facility led by BNP Paribas Fortis.
The loan, which is backed by Belgium’s export credit agency ONDD, will be used to fund the rollout of digital cinema equipment across Europe.
Both the European Investment Bank and Belgium’s KBC Bank were participants in the deal which consists of two tranches, split equally into €50mn (US$61mn).
The first tranche is due to be used to provide digital systems in Belgium, before moving to Germany, Spain, Poland, Hungary, Czech Republic and Slovakia.
XDC has agreements with Warner, Fox, Universal, Paramount, Sony and Disney and this loan has made the company’s goal of 8000 screens deployed across 22 European countries much more attainable, as Serge Plasch, chief executive officer at XDC, comments: “Finally, this is the tangible result of 18 months of intensive cooperation between XDC, the three banks and six major Hollywood studios. With this loan we will now, in practical terms, be able to finance more than 2000 screens across Europe.”
Last Updated May 25, 2010
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