CI Games Lands $32 Million Loan for Self-Publishing Lords of the Fallen 2
Polish developer CI Games has obtained a $32 million credit facility to complete production and global marketing for its upcoming soulslike sequel, Lords of the Fallen 2. As GamesIndustry.biz reports, the financing allows the studio to self-publish the title across major platforms following the termination of a previous PC distribution agreement with Epic Games.
Context from Industry Pulse
The transition to self-publishing represents a strategic pivot for CI Games following the dissolution of its partnership with Epic Games. By securing a $32 million loan instead of equity financing, the studio avoids diluting shareholder value while taking on the full financial risk and reward of the sequel’s performance. The 2027 release window places the title long after the original game's $66.2 million investment cycle. This funding structure, backed by a state-guaranteed agency, suggests a reliance on the soulslike genre's market stability to recoup significant production and marketing debts. The move ensures the developer maintains control over its intellectual property across all platforms simultaneously.
The new syndicated credit facility was arranged through Bank Ochrony Środowiska and Erste Bank Polska. According to GamesIndustry.biz, the funding is intended to cover the remaining development costs, a worldwide promotional campaign, and the final launch of the project. Additionally, the capital will be used to refinance the existing bank debt held by the group. The Polish export credit agency KUKE is providing an 80 percent guarantee for the loan, which is scheduled to mature in August 2027.
This financial move follows a significant shift in the distribution strategy for the sequel. GamesIndustry.biz notes that CI Games ended a publishing agreement with Epic Games earlier this year, which would have granted Epic PC publishing rights and ensured storefront exclusivity. By moving to a self-publishing model, the developer avoids sharing revenue with an external publisher. The studio has confirmed that its ongoing technical relationship with Epic regarding the use of Unreal Engine remains unaffected by the split.
Management has targeted a release window for the first quarter of 2027, with a specific date expected to be revealed this December. The title is currently in development for PC, Xbox Series X/S, and PlayStation 5. The previous entry in the series was identified by the company as its most expensive project to date, carrying total costs of approximately $66.2 million.
Repayment of the $32 million facility is expected to be driven primarily by sales of the new sequel. The company president, who is also the largest shareholder, has pledged to maintain his current stake throughout the duration of the financing period. This commitment ensures that existing shareholders retain their full participation in the potential commercial success of the game without the dilution typically associated with issuing new shares.
The Industry Pulse Bottom Line
CI Games is betting on self-publishing to maximize its revenue margins. By leveraging debt over equity, the studio retains total control of its flagship sequel while carrying the full burden of its 2027 commercial performance.