EMI Are In Big Trouble And Have To Make Money To Pay Loans

EMI is praying that Santa is generous this season as it stares down a major post-Christmas payment due on  £2.7 billion in loans from Citigroup. UK analysts are warning that EMI must generate significant cash by March to meet its obligations, If not, Terra Firma, the private-equity which bought EMI for £2.4 billion and already added £10 million three months ago to avoid default could be forced to inject more funds.

Tags: citigroup cold play debt EMI interest loan loans money terra firma tom jones trouble