Zee Entertainment Enterprises to raise $239 million through FCCB

Zee Entertainment Enterprises said it is raising $239 million via foreign currency convertible bonds (FCCB) from Resonance Opportunities Fund, St. John’s Wood Fund, and Ebisu Global Opportunities Fund.

In a late evening statement, the company said its Board of Directors, at its meeting held today, approved raising funds by issuing 5 per cent coupon, unsecured, unlisted foreign currency convertible bonds up to $239 million, maturing in 10 years, on a private placement basis to Resonance Opportunities Fund, St. John’s Wood Fund Limited, and Ebisu Global Opportunities Fund.