Acamar Films taps £15 million MTN Programme
LGB has successfully arranged a £2.3 million note issuance under the existing MTN Programme of Acamar Films, which owns the intellectual property and commercial rights to the children’s character Bing. The funds have been used for the refinancing of the company’s Arbuthnot Latham facility which has been guaranteed by the CEO’s family. Following the refinancing, Acamar Films has received a further £1.15m equity investment from the CEO’s family.
The note issuance, at 8.5% p.a. for three years, follows a very successful period for Acamar Films. Bing is going from strength to strength having been sold to broadcasters in 115 territories thus far. Episodes of Bing have been downloaded 431 million times from the BBC iPlayer, and are also available on-demand on Amazon Prime. This success is significant given the expected dominance of video-on-demand platforms. Newly curated web-only Bing content is being produced by Acamar in-house and published on YouTube alongside the existing episodic content in multiple regions and languages. Bing is achieving over 3 million views on YouTube a day, thereby creating a new rapidly growing digital revenue stream for the business. The long awaited new 26 episodes of Bing, which the company has been producing over the last two years, are due to be broadcast on Cbeebies this Autumn, and these new episodes are now premiering exclusively on the new Bing App. Following this success and with the help of LGB, the company has raised £6.9 million in equity from existing and new investors since the start of 2019.