RCOM Completes Securitisation under RS. 1,200 Crore (US$ 200 Million) Inter-city fibre agreement with Reliance JIO Infocomm

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Printer-friendly versionPrinter-friendly version SECURITISATION PROCEEDS UTILISED TO REPAY HIGH COST RUPEE DEBT, WITH SIGNIFICANT INTEREST COST SAVINGSSECURITISATION COMPLETED WITH INDIAN AND FOREIGN BANKSDELIVERIES OF INTER CITY FIBRE LINKS TO RELIANCE JIO ALREADY COMMENCEDTOTAL DELIVERIES OF 1,20,000 KMS INTER CITY FIBRE TO BE COMPLETED WITHIN CURRENT FINANCIAL YEARMumbai, 11th July, 2013: Reliance Communications (RCOM) today announced that it has completed securitisation of proceeds under the Rs. 1,200 crore (US$ 200 million) intercity Fibre Agreement signed with Reliance Jio Infocomm Ltd. in April 2013. The proceeds from securitisation have been utilised to repay high cost rupee debt, resulting in significant interest cost savings for RCOM. The securitisation has been completed with Indian and foreign banks. Deliveries of inter city fibre links to Reliance Jio have already commenced. The total deliveries of 1,20,000 kms inter city fibre under the Agreement are expected to be completed within the current financial year. About Reliance CommunicationsReliance Communications Limited founded by the late Shri Dhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Group. The Reliance Group currently has a net worth in excess of Rs. 89,600 crore (US$ 16.5 billion), cash flows of Rs. 9,100 crore (US$ 1.7 billion), net profit of Rs. 4,300 crore (US$ 0.8 billion). Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company has a customer base of over 130 million, including over 2.5 million individual overseas retail customers. Reliance Communications corporate clientele includes 35,000 Indian and multinational corporations, and over 800 global, regional and domestic carriers.Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline),convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire communications value chain, covering over 24,000 towns and 600,000 villages.Reliance Communications owns and operates the world's largest next generation IP enabled connectivity infrastructure, comprising over 277,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.

News Source : RCOM Completes Securitisation under RS. 1,200 Crore (US$ 200 Million) Inter-city fibre agreement with Reliance JIO Infocomm

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