Eros Media 26 Discussion Threads

[top_barman] 01/11/2022 17:07

Announcement on LSE website. Coupon not yet paid. Rectifying ASAP.

[pyueck] 01/11/2022 12:45

Last bond was paid into my ii account on 5th after the month it was due. I believe they made some argument that they could pay it within 15 days of being due without it being late, but no idea how they came to that conclusion. Not giving up on interest being paid yet but looking dire. The bonds are not secured on the Indian business but the US one and with the complexity of the structure who knows how one relates to the other.

[tsaras] 01/11/2022 11:23

I was referring to the excitement of “20% increase in the USD stock”. As for the bonds. I have no idea. Someone mentioned they received the coupon. I haven’t. No idea what is going on. Bonds are trading all time low.

[maisieme] 01/11/2022 10:52

? Just wanted to know whether they are technically in default on the bond now.

[tsaras] 01/11/2022 07:23

Please don’t write such comments… it went for 0.40 to 0.50 on minimal volume. They are not listed and you only trade OTC. Nasdaq will review it on 15th of December, but the chance of re-entering are negligible, given that they don’t publish financial results. If you want to watch their stock. Watch the Indian entity. EROS IN is the ticker.

[maisieme] 01/11/2022 06:09

Do you know why? Aren’t they already in default?

[nailed] 31/10/2022 19:34

USD Shares of Eros up 20 percent

[pyueck] 27/10/2022 21:29

Trading under 20p in the pound now. Not a good sign.

[bobswest] 27/10/2022 18:28

Not reversed yet. I’ll let you know if (when) it is.

[aamhager] 27/10/2022 08:29

Any reversal yet? The company clearly have not paid the coupon

[pyueck] 24/10/2022 15:39

Me neither, but took a good 15 days last time.

[scoobysurfer] 24/10/2022 11:54

No sign of it in my idealing account as of 24 Oct.

[bobswest] 22/10/2022 12:55

No, the cash is still in my account. I’m thinking of withdrawing it 😁

[aamhager] 21/10/2022 16:15

Have they reversed the payment yet?

[bobswest] 21/10/2022 08:57

Wasps left it until the afternoon of the day redemption was due before they admitted they hadn’t refinanced or found a buyer for the business. My guess is this will go the same way. However, one of the joys and sorrows of investment is that what I think will happen and what actually happens are seldom the same.

[tsaras] 21/10/2022 08:23

Let me remind you that there is a grace period for paying the coupon and Eros has been using it fully the past few times. I believe the coupon will be paid (maybe has already been paid) to get another 6 months. Now is when the real show starts. They don’t have the cash to repay the debt and refinancing will be 20%+.

I believe we will not hear anything from them. Complete radio silence. If they were serious about this bond, they would have already been discussing refinancing or cash raise to repay it.

Only solution is that some Indian billionaire buys them.?!?

No idea really. But will be exciting to see what happens. Not for my pocket, cause I’m very offside on these bonds

[bobswest] 21/10/2022 08:17

No email - they just credited my account with the cash. If they have made a mistake it wouldn't be the first time, but it's looking good....

[aamhager] 21/10/2022 07:47

What did they say exactly? And how? Email?

[grahamg8] 21/10/2022 07:11

No sign in my Hargreaves account. Did Wisealpha say the interest had actually been paid, or that it should have been paid? Due 15 October.

[bobswest] 20/10/2022 17:21

According to Wisealpha the current coupon has just been paid. I was not really expecting that!

The corpse is still breathing.

[kcalp13] 17/10/2022 04:29

In my view, UK is an integral part of the Eros business. The ownership structure of Eros is opaque but mainly controlled by offshore vehicles set up by UK banks. A few individuals control the entire business and rely upon long term success of Eros for wealth creation for this and future generations of the controlling family. Yes, there is not much liquidity/cash in the business to pay the bonds at maturity but in the long run who knows?

[pyueck] 12/10/2022 13:36

Impossible to know anything as they haven’t released results for years.

[tsaras] 11/10/2022 17:20

They will pay the upcoming coupon and go all-in at redemption.. I don't think there is any way to pay at maturity. They are a loss making business and have no cash. In addition, they screwed US investors, now it's time to screw UK investors. Will be very intersting to see how this plays out

[nicktheglobe] 11/10/2022 13:52

One factor in their favour is the weakness of the £ against both the $ and the Rupee. The debt in ERO1 has reduced by 10-25% over the last year in terms of the currencies in which they make or lose money.