Zee Entertainment Raises $239 Million in FCCB Issue
Zee Entertainment Enterprises Ltd. (ZEEL) has raised $239 million through a Foreign Currency Convertible Bonds (FCCB) issue. The funds will be used to enhance strategic flexibility and pursue growth opportunities in the evolving media landscape.
The FCCBs were issued to Resonance Opportunities Fund, St. John’s Wood Fund Ltd., and Ebisu Global Opportunities. The bonds carry a coupon of 5% per annum and will mature in 10 years.
This move by ZEEL reflects the company’s commitment to strengthening its financial position and exploring new avenues for growth in the dynamic media sector.
