Eros International Extends Revolving Credit Facility
April 03 2017 - 8:15AM
Business Wire
Eros International plc. (NYSE:EROS) ("Eros" or the "Company"), a
leading global company in the Indian film entertainment industry,
announced today that it has executed documentation with the
existing lenders of its $85 million revolving credit
facility ("RCF”) to extend the maturity of the RCF by six months
from April 1, 2017 to September 30, 2017. The Company is
already in advanced stages of executing
multiple long-term refinancing options to replace the RCF.
The Company’s long term shareholders continue to stand in
support. The Company is confident that its strong business
fundamentals underpinned by a compelling new release film slate, a
large and valuable film library, growth opportunities from new
markets such as China and tailwinds for the high-growth Eros Now
OTT business, mean that Eros is well positioned to consolidate its
market leadership position within the attractive Indian
entertainment sector.
About Eros International, Plc
Eros International Plc (NYSE: EROS) is a leading global company
in the Indian film entertainment industry that acquires,
co-produces and distributes Indian films across all available
formats such as cinema, television and digital new media. Eros
International Plc was the first Indian media company to list on the
New York Stock Exchange. Eros International has experience of over
three decades in establishing a global platform for Indian cinema.
The Company has a competitive advantage through its extensive and
growing movie library comprising of over 3,000 films, which include
Hindi, Tamil, and other regional language films for home
entertainment distribution. Eros International has built a dynamic
business model by combining the release of new films every year
with the exploitation of its film library. The company also owns
the rapidly growing OTT platform Eros Now. For further information
please visit: www.erosplc.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170403005724/en/
Eros International PlcMark CarbeckChief Corporate & Strategy
Officer+44 (0)20 7258 9909mark.carbeck@erosintl.comorMedia:Sloane
& CompanyErica Bartsch, 212-446-1875ebartsch@sloanepr.com
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