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| Bse Corporate Announcements | Back |
| Reliance communication signs final documentation with China Development Bank | |
| Reliance communication signs final documentation with China Development Bank For fully underwritten over Rs 8700 crore loan facility Reliance communication (RCOM) has signed final documentation with China Development Bank (CDB) for Rs 6000 crore (US$ 1.33 billion) loan facility. The loan facility is fully understanding by CDB and will be funded by a syndicate of Chinese banks/ financial institutions including CDB. This represents the first and largest ever syndicated loan for refinancing spectrum fees. RCom has also signed an additional agreement for Rs 2700 crore with CDB, for financing imports / domestic expenditure of telecom from Chinese vendors (namely, Huawel and ZTE). RCOM has already received RBI approval for the facilities and draw down is expected to commence shortly. The company made this announcement after the trading hours on 09 March 2011. |
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