Film studio Metro-Goldwyn-Mayer, which owns the James Bond franchise, has received a $1 billion five-year revolving credit facility arranged by J.P. Morgan Chase with a syndicate of lenders.

The new funding structure replaces its existing $665 million revolving credit facility and lowers its borrowing rate, reports the Hollywood Reporter. The Beverly Hills company said it also prepaid its $300 million second lien term loan, resulting in expected interest savings of approximately $50 million.

Privately-held MGM had a net income of $56.8 million on revenue of $364.5 million in the second quarter, the company reported. The company has been working its way back to healthy financials after emerging from bankruptcy in 2010.

The studio’s recent film releases include “Spectre,” “Creed,” “Hot Pursuit,” “Poltergeist,” and “Max.” Its upcoming slate of films includes “Ben-Hur” and “The Magnificent Seven.”

Technology reporter Garrett Reim can be reached at [email protected]. Follow @garrettreim on Twitter for the latest in L.A. tech news.