Standard Chartered Group to invest $35 million in Prime Focus Limited

MUMBAI: Standard Chartered Bank Group entity is set to invest $35 million in the non convertible debenture of Prime Focus Limited, a global visual entertainment services group.

The zero-coupon, unsecured NCDs are six year instruments. The said debentures are proposed to be listed on the wholesale debt market segment of the Bombay Stock Exchange.

"We are happy to announce an investment of $35 million by Standard Chartered.. We understand that there was general concern with regard to the redemption of the FCCBs, which we have now addressed for all practical purposes," said Nishant Fadia, CFO, Prime Focus.

The proposed issuances are subject to various terms and conditions, including execution of definitive documents and all requisite approvals and consents, said the company.