RCom to repay bond Holders in cash, Bond
The Global Cloud Xchange bonds will be unsecured and carry a coupon of 0.1 per cent with maturity of four years, it added.
New Delhi: Reliance Communications (RCom) said on Friday that it will repay holders of $300 million bonds through a combination of cash and bonds of its overseas firm.
“Reliance Communications (RCom) bondholders approved the tender and exchange offer of $300 million bonds with an overwhelming majority of over 83 per cent, at their meeting held today, 24 August 2018, in London,” RCom said in a statement.
Following the offer that has been approved, the bondholders will receive cash proceeds of up to $118 million.
“The bondholders will also get $55 million bonds to be issued by Global Cloud Xchange, a foreign subsidiary of RCom,” the statement added.
The Global Cloud Xchange bonds will be unsecured and carry a coupon of 0.1 per cent with maturity of four years, it added.
RCom on Thursday had announced the completion of the sale of its media convergence nodes and related infrastructure assets to Jio.