Eros gets $25m Lloyds fundingTeam YS
Indian media and entertainment company Eros International has signed a $25m three-year term facility with Lloyds Banking says Business Financial Newswire.
The facility gives Eros around $145m of medium-term funding to late 2012. The funds, along with internal cash resources, are being used to replace an existing short-term rolling $35m facility from Citibank.
CEO Kishore Lulla said, "It is our ongoing strategy to get an appropriate mix in our funding maturities and increase our banking relationships in anticipation of the opportunities that we see ahead of us in the Indian entertainment industry."