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Eros/STX to get $350 million credit facility with merger
By Sara Rosenberg
New York, April 17 – Eros International plc/STX Filmworks Inc. plans on getting a $350 million senior credit facility in connection with the stock-for-stock merger of Eros and STX, according to a news release.
JPMorgan is the lead and the administrative agent on the credit facility.
The capital structure will also include $125 million of incremental equity from new and existing STX equity investors, including TPG, Hony Capital and Liberty Global.
Closing is expected in the second quarter, subject to regulatory approvals and conditions.
STX is a media company specializing in the production, marketing, and distribution of motion picture, television and multimedia content. Eros is an Indian entertainment company. The combined company will be domiciled in Isle of Man, and based in both Mumbai, India, and Burbank, Calif.
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