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Zee plans $100 m bond issue

MUMBAI, FEB. 11. Zee Telefilms is to raise up to $100 million through external commercial borrowings (ECBs) by the end of the current fiscal to fund its equipment upgradation plans. The company board today approved the proposal to raise long term funds of up to $100 million by way of an issue of ECBs in the form of convertible bonds, a senior company official said here.

The bonds would be convertible into equity shares following the date of issue. It was proposed to list the bonds on an international stock exchange, he said, adding a meeting of shareholders had been convened on March 9 for seeking their approval.

— PTI

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