Rcom agrees Chinese loans to pay off convertible bonds

News Wireless India 17 JAN 2012
Rcom agrees Chinese loans to pay off convertible bonds
Indian operator Reliance Communications (RCom) has tied up refinancing for the maturity of its outstanding Foreign Currency Convertible Bonds (FCCBs) of USD 1.182 billion. The refinancing is provided by Chinese banks ICBC, CDB and EXIM and other banks. RCom will profit from an extended loan maturity of seven years and interest rate of about 5 percent. The loan proceeds will be used for refinancing the entire redemption amount of the convertible bonds, due on 1 March.

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Mobile

Companies:

RCom

Countries:

India

Tags:

Network equipment, Financial funding

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