Eros International withdraws bond issue

Eros is expected to raise between $200 and $230 mn through sale of dollar bonds with 5 year maturity

Eros International, the New York Stock Exchange-listed arm of the film studio, will not be going through fund-raising exercise via the dollar bond route. Had the studio gone ahead with its plans, Eros would have been the first Indian entertainment company to do so. 
 

Eros had met investors last week in Hong Kong, Singapore and London. Since, the company did not get the rates it was expecting on the dollar denominated bond, it postponed the bond issue.

In an emailed statement, Managing Director Jyoti Deshpande said, “The bond markets were a bit soft since the beginning of the week. Some