Marvel Entertainment announced today that it has completed the amendments required to enable the funding of its Iron Man and The Incredible Hulk feature film projects through its $525 million non-recourse debt facility. The films, which are being produced by the Companyâ€™s Marvel Studios subsidiary, were not included in the initial film financing facility but have now been added on the same terms.
Iron Man will be distributed by Paramount Pictures and is scheduled for release on May 2, 2008, and The Incredible Hulk will be distributed by Universal Studios and is planned for release in 2008. Borrowings under the film facility are non-recourse to Marvel Entertainment, Inc. and its affiliates.
Robert Downey Jr. was recently cast in the title role of Iron Man for director Jon Favreau while Louis Letterier will direct The Incredible Hulk with a swirl of casting rumors surrounding the lead role of Bruce Banner including that of Eric Bana who played Banner in Ang Lee’s Hulk in 2003.