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Entertainment Network India Ltd (ENIL) that runs Radio Mirchi channel has increased Rs 249.43 crore through issuing unsecured commercial papers (CPs) to BNP Paribas.
Entertainment Network (India) Ltd has said in a BSE filing that “The company has on March 18, 2016 issued unsecured commercial papers (CPs) to BNP Paribas. The amount raised through issuance of CPs is Rs 249.43 crore.”
It further said that “The CPs have a tenor of one year and will mature on March 17, 2017. The maturity value of CPs is Rs 270 crore. The effective yield of the CPs is 8.25 percent per annum. The proceeds from the CPs will be used to fully repay the outstanding bank loans.”
