Tuesday 17 January 2012
Reliance Loans from Chinese banks to refinance Rs 6,125 crore worth of outstanding foreign currency bonds
Reliance Communications said on Tuesday it has secured loans from a host of Chinese banks to refinance $1.18 billion worth of outstanding foreign currency bonds due for redemption on March 1.
The deal will provide respite to the No. 2 Indian mobile operator by subscribers, controlled by billionaire Anil Ambani, that has been trying for more than a year to sell its telecoms tower unit to cut the company's about $6.5 billion debt.
The deal will provide respite to the No. 2 Indian mobile operator by subscribers, controlled by billionaire Anil Ambani, that has been trying for more than a year to sell its telecoms tower unit to cut the company's about $6.5 billion debt.
