Skydance Media has closed a new five-year, $1 billion credit facility led by J.P. Morgan, doubling the amount of a prior credit arrangement led by the financial institution.

David Ellison’s co-finance and production house is poised for a high point Wednesday with the global release of Mission: Impossible – Dead Reckoning Part One, which is on track for franchise-record box office.

The new credit facility extends the company’s long-term relationship with J.P. Morgan. It replaces a four-year, $500 million revolving credit facility established in 2020. In announcing the new facility, Skydance also noted a recent $400 million investment round valuing the company at more than $4 billion. That round was led by KKR and the Ellison family and joined by existing investors RedBird Capital Partners and Tencent.

Along with the Mission: Impossible franchise, Skydance has backed Top Gun: Maverick as well as popular streaming films like Ghosted on Apple TV+, The Tomorrow War on Prime Video and Netflix’s The Old Guard and The Adam Project. Along with film and television, Skydance has expanded into sports, animation, interactive, and new media.

The announcement was made by Skydance CFO & EVP of Business Operations, Larry Wasserman and Head of Entertainment Industries for J.P. Morgan’s Corporate Client Banking Group, David Shaheen.

“We’re incredibly proud to build upon our longstanding relationship with Skydance Media as they continue to grow,” Shaheen said in a press release. “This facility and the immense support from the entertainment banking community stand as a true testament to the strength of their business and quality content across platforms.”

Wasserman said the company remains focused on “the massive opportunity ahead of us to sustain and enhance our growth.” With J.P. Morgan’s support, he added, “our forward-thinking business structure, and an unmatched network of partners, “we are well-positioned to continue bringing global entertainment to new heights.”

The negotiation and execution of the facility was handled by Skydance General Counsel, Stephanie McKinnon, and VP Corporate Counsel, Jaega Haralambus.