RELIANCE COMMUNICATIONS HOLDERS OF USD 300 MN BONDS APPROVED THE TENDER AND EXCHANGE OFFER

Deepthi | Myequity news | Date : 24-08-2018 17:30:00 IST

Reliance Communications Limited (RCOM) Bond holders, approved the Tender and Exchange offer of US$ 300 million Bonds with overwhelming majority of over 83%, at their meeting held today on August 24, 2018, at London,

Pursuant to the Offer as approved, the Bond Holders will receive cash proceeds upto US$ 118 mn. The Bond Holders will also get US$ 55 million Bonds to be issued by Global Cloud Xchange Limited (holding Company of GCX), a foreign subsidiary of RCOM.

The New Bonds of Global Cloud Xchange will be unlisted, unsecured and shall have half yearly coupon of 0.1% with maturity of four years.

About Reliance Communications limited:

Reliance Communications (stylised as RCom) is a telecommunication company headquartered in Navi Mumbai, India. A subsidiary of Reliance Group, its services include GSM (voice; 2G, 3G and 4G), fixed-line broadband and voice, and direct-to-home satellite television (depending upon area in India). The company ended its 2G and 3G service (including all voice service), offering only 4G data service, on 29 December 2017 as a result of debt and a failed merger with Aircel.


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