DQ Entertainment (Mauritius), the holding company of DQ Entertainment (International) has executed the documents on December 09, 2014 to raise funds up to $50 million by way of senior secured convertible bonds from OL Master, a private credit fund managed by OCP Asia (Hong Kong). The funds can be drawn down in two tranches, the first of which is for $35 million and will be drawn down immediately and the second tranche of $15 million can be drawn down at the option of the Investor within 12 months thereof.
The net proceeds from the issue of the Bonds will be used to fund the development of more than 20 owned-IP and co-production projects currently in the pipeline for production over the next two years, for the repayment of certain debts amounting to approximately $7.21 million (Rs 44.51 crore) and for general working capital purposes.
DQE is one of the leading producers of animation, visual effects, game art and live action entertainment content for the global media and entertainment industry. DQE has a library of over 500 hours of international programs for distribution and licensing globally for TV, home entertainment, merchandising and publishing is on fast track.
