Eros Media 26 Discussion Threads

[scoobysurfer] 11/10/2022 09:09

I think the fact that they didn't pay back the capital when promised will mean they will struggle to gain trust from lenders again. I certainly won't be trusting them again.

[kcalp13] 11/10/2022 08:10

Very likely coupon will be paid but bonds likely to be restructured again on maturity. CEO Kishore would value his reputation too much to screw bond investors and render his company not able to raise finance from the capital markets again; just a guess !

[tsaras] 22/9/2022 14:04

I think they will pay. And screw us on redemption

[pyueck] 21/9/2022 07:38

Not that long until next bond interest due. What chance of it being paid?

[tsaras] 01/9/2022 07:58

I disagree. They aren’t upset at all. Stage 1 of fraud is complete, international investors (NASDQ). Stage 2 will be the retail bonds. If they cared even slightly they would have started buying back some of their debt at 30%, but clearly they don’t care. They are “delivering221; onshore results, with their stock up 100% at the expense of international suckers. I’m really curious to see how this plays out

[grahamg8] 20/8/2022 08:19

Eros response to delisting seemed to be upset, although they must have known it was coming. Problems with the demerger, well yes I can understand that. But the real problem is the pre-merger accounts which should be filed in the fiction section of the local library. From memory net debt $130m including $69m for the bonds. The main (only) asset is Eros Now which could be worth just about anything. The Company forecast $120m revenue in 2023 and EBITDA of $30m. A fantasy/comedy classic I suspect.

Next crunch mid October for the interest payment, then April for the redemption

[pyueck] 19/8/2022 07:49

Who knows, I guess the stock could continue to trade on the pink sheet or be taken private. When the bond was renewed they said that the results would also be released by next November so technically think this bond is in default too but not sure what we can do about it. I have never really understood how Eros is structured and suspect there may have been a reason for this. I am not even too sure now what this bond is secured against. The Indian stock seems to be holding up ok but think this is just a subsidiary company of the US stock with some other shareholders, but quite frankly not entirely sure. Tempted to just sell for what I can but the fact that this still trades at 30p suggests it may have some future, maybe?

[my retirement fund] 18/8/2022 15:28

Looking like the final curtain here. There's been so many encores it's unreal but this must be curtains down lights off now!

[pyueck] 18/8/2022 08:17

The US stock is being delisted by regulators for lack of filings. Anybody any idea what this means for this bond, I keep losing track.

[goonerbob] 05/8/2022 13:18

Eros Receives NYSE Extension for Annual Report Filing -

Eros Media World Plc (NYSE: EMWP) (“Eros”, the “Company”;) today announced that the New York Stock Exchange (the “NYSE”) has granted the Company an extension through August 17, 2022, subject to reassessment on an ongoing basis, to complete and file with the Securities and Exchange Commission its annual report on Form 20-F for the fiscal year ended March 31, 2021 (the “2021 20-F”) and the Company’s Semi-Annual Report on Form 6-K for the six months ended September 30, 2021 including the unaudited financial statements to be contained therein (the “2022 HY 6-K”)

hxxps://www.businesswire.com/news/home/20220803005993/en/Eros-Receives-NYSE-Extension-for-Annual-Report-Filing

[tsaras] 03/8/2022 05:25

Yeah, what’s that about!? The NASDAQ listing is doing so bad that even after a 20:1 split will go below $1. On the other hand, the Mumbai listing is holding in fine, and they were able to raise more money few months back (warrants). That company is a mystery. I’m keen to hear a bullish view. They don’t have the money to repay the retail bonds, but they haven’t even talked to us about rolling… we are in that time window usually. So to me, seems they are heading to administration

[my retirement fund] 02/8/2022 17:58

Looks like a step closer to administration but bonds seem to have jumped. Weird

[alphajo] 12/5/2022 15:46

The market conditions are not favourable. If there's no chance that we get the face value of the bond, what is the best course of action (price today 28).
Has anyone thought about what could be the recovery rate in the event of default? (I see the average is 40%).
Selling now is an option for me...
Has anyone thought of this in more detail?

[grahamg8] 04/5/2022 16:57

Tsaras I agree with the general sentiment. An all paper transaction would do the trick. I'm not too excited about Netflix shares but it would all depend on the price.

[tsaras] 04/5/2022 15:30

So, coupon payment received. Less than 365 to go till maturity. There’s no way they can repay the debt. Refinance looks unlikely (high interest rate). So it’s either some form of default/restructuring or a buyout. Netflix say they want to penetrate into the Indian market, maybe Eros should pitch their customer base to them? Don’t see that happening though, Netflix has other problems now… so we are back with very gloomy outlook and waiting for some piece of news to see where these bonds will land between 0-100. Good luck

[jamesramage] 30/4/2022 10:20

Ditto. Coupon in my HL account today. Phew

[grahamg8] 29/4/2022 19:26

Disappointing and rather surprising share price reaction to modestly upbeat statement from CEO. To me a sale or JV for Eros Now looks pretty much bolted on.

[g2000t] 29/4/2022 17:47

Interest payment in my account today

[my retirement fund] 29/4/2022 10:55

going down

[pyueck] 29/4/2022 10:13

Well the 29th is here and no money received...

[grahamg8] 26/4/2022 16:11

The November interest was paid on 29th. So it looks like Friday for our overdue money. Any later and they would be in default. The Indian film unit is of questionable value as it is under a cloud for causing the problem with the year end accounts. That leaves the film library. Does Elon Musk have any cash left?

[my retirement fund] 26/4/2022 14:51

It would seem the bonds need to be pushed out a few years and possibly a haircut. The price is indicating a haircut.

[tsaras] 26/4/2022 12:45

The deal is for real. We all agree. I just cannot see how they will service the retail bond debt. It just doesn't add up. Even if they generate cash... they will go into manamgent's pockets via back doors. They are professionals

[my retirement fund] 26/4/2022 11:15

Reading between the lines on the US forums, it seems this is not a fake deal it's for real, this would explain why the court granted the extra time (the courts would have been privy to their finances and checked they really did have the means to complete it).

[pyueck] 26/4/2022 07:34

What do I think of the Eros bonds? Don’t understand what this company owns, didn’t understand the announcement yesterday, don’t understand the delays in the results and don’t understand the change in auditor. Maybe I am stupid but I suspect not. I suspect the creation of ambiguity and confusion is all part of the plan. In short I have zero confidence in this board or any results they announce. Please remember that EBITDA is not net profit and definitely not free cash flow. That’s if you trust it in the first place.