Bollywood Filmmaker Said to Win Debt Reprieve After Failed Deal
- Eros amends and extends terms on its expiring revolver
- Effort to refinance with debt sale collapsed earlier in March
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Filmmaker Eros International Plc has won a lifeline on its credit facility after investors rebuffed an earlier effort to raise new debt, according to people with knowledge of the matter.
The producer of Bollywood films amended and extended the terms of its revolving credit line that was set to expire on Friday, said the people, who asked not to be identified as the information isn’t public. The Mumbai-based company scrapped a bond offering earlier this month that would have allowed it to repay the revolver. Terms of the new facility haven’t been publicly disclosed. Amita Naidu, a spokeswoman for Eros, wasn’t immediately available for comment.