Reliance Communications Ltd receives RBI approval for refinancing
Added On:2/17/2012 1:20:00 PM

Reliance Communications Limited (RCOM) has received RBI approval for the refinancing being provided by ICBC, CDB and EXIM for redemption of its outstanding FCCBs (Foreign Currency Convertible Bonds). 

The outstanding FCCBs of US$ 1,182 million (approximately Rs. 5,825 crore at the prevailing US$ exchange rate of Rs. 49.30) will be redeemed on the due date of March 1, 2012.

RCOM will benefit from extended Loan Maturity of 7 years and attractive interest cost of about 5%. This is the largest refinancing in the history of FCCBs by any Indian Corporate.

 
 
ITVoir NewsDesk

  

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