Wednesday, September 07, 2005

What is a group of men in bright spandex worth?

(or how much will it cost me to hire the Avengers)

About half a billion dollars.

Marvel Launches Independently Financed Film Slate With Closing of $525 Million Non-Recourse Credit Facility

While not the first time "art" has been used to raise some capital - See the David Bowie Securitization - I wonder what happens, from the creditors' point of view, if these movies tank? With the Bowie deal, there was already a strong cash flow to purchase, so this could be a little different.

Given how this was wrapped up in a SPE and the deal was a non-recourse nature, one could wonder what creditors are to do with some NPCC's (non performing comic characters) if things go flat, especially since it is only the theatrical film rights to these characters that have been pledged as security.

The insurers on this deal better hope these movies do well or they maybe trying to "spend" their celluloid Captain America.


Anonymous Anonymous said...

If these movies go belly up, I bet Merrill Lynch will pimp these characters out to low budget porn flicks

1:17 AM  

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