Brickwork downgrades Essel Group’s NCDs worth Rs 425 crores to ‘BBB-‘

Zee Entertainment Enterprises (ZEEL) promoters informed the stock exchanges on July 31, 2019, that Invesco Oppenheimer Developing Markets Fund (IODMF; existing investor in ZEEL for 7.74% stake) has agreed to buy up to 11% stake in ZEEL for a consideration value upto Rs 4,224 crore, which will be utilised by the promoters to repay the partial debt raised by promoter held entities against pledge of shares.

from The Financial ExpressThe Financial Express https://ift.tt/2NmnoYP
via IFTTT