ISLE OF MAN, United Kingdom--(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