Zee Entertainment cancels $215 million FCCBs after bondholders seek exit amid geopolitical tensions

Zee Entertainment Enterprises has cancelled $215.1 million in unutilised Foreign Currency Convertible Bonds (FCCBs) after bondholders sought an exit, citing geopolitical uncertainty and changes in capital allocation strategy.

In a regulatory filing on March 26, the company said its board approved the request, noting that the move could have a positive impact on its treasury, subject to regulatory and contractual requirements.

The company has also approved the redemption of $23.9 million in outstanding FCCBs.