MUMBAI: Terra Firma will be investing additional sums in EMI Music to enable the business to maintain compliance with its banking covenants.

EMI’s parent company Maltby Investments has also informed Citigroup, its principal lender, about the receipt of this confirmation. It is expected that this process will be completed by no later than 14 June.

EMI Music executive chairman Charles Allen said, “We are very pleased to have received this confirmation of an additional investment, which is a vote of confidence in EMI from Terra Firma and its investors, following the significant improvement in the company’s operating performance.”