Reliance Communications raises $255 mn for part-finance of 3G loan
January 18th, 2011 - 6:29 pm ICT by IANSMumbai, Jan 18 (IANS) Reliance Communications (RCom), part of the Reliance Anil Dhirubhai Ambani group, Tuesday said it has raised $255 million (Rs.1,155 crore) through external commercial borrowings for partly re-financing payments for acquiring third generation (3G) spectrum.”RCom will benefit from extension of maturity and substantial savings in interest costs from the facility,” the company said in a regulatory statement.
The loan is funded by a consortium of banks led by Australian and New Zealand Banking Group Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd and Intesa Sanpaolo Spa.
Reliance Communications, which won the bids for 13 telecom circles including Delhi, Mumbai, Kolkata and Punjab, had to pay Rs.8,585.04 crore to the government towards securing the 3G spectrum.
Last year, RCom had also signed an agreement with the China Development Bank Corporation for a loan of $1.33 billion for re-financing the loans taken to pay the 3G spectrum fee and for financing up to $600 million towards procuring 85 percent of telecom equipment and services from Chinese firms Huawei Technologies and ZTE Corporation.
- Reliance Communications gets RBI nod for refinancing FCCBs - Feb 16, 2012
- Reliance Communication to get $1.93 bn from China Bank - Dec 15, 2010
- Reliance Communications Q3 net profit up 7.7 percent - Feb 14, 2011
- Reliance draws second tranche of loan - May 12, 2011
- Reliance Communications gets $665 mn from Chinese bank - Mar 17, 2011
- Reliance Communications inks $1.9 bn loan deal with Chinese bank - Mar 09, 2011
- Reliance Communications ties up refinancing for FCCB worth $1.18 bn - Jan 17, 2012
- Huawei to manage Bharti Airtel's 4G network in Karnataka - May 01, 2012
- RCom pays $1.91 billion towards 3G spectrum - May 31, 2010
- Anil Ambani meets CBI to clarify issues relating to telecom matters - Feb 16, 2011
- Reliance launches 3G services in Punjab - Jan 13, 2011
- Government kitty swells $15 bn as telcos pay for 3G spectrum - May 31, 2010
- Airtel launches 4G services in Kolkata, first in India - Apr 10, 2012
- Sibal to launch Bharti Airtel's 4G services Tuesday - Apr 09, 2012
- RCom to seek shareholders' nod for raising funds - Sep 27, 2010
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