RCOM COMPLETES SECURITISATION UNDER RS. 1,200 CRORE (US$ 200 MILLION) INTER-CITY FIBRE AGREEMENT WITH RELIANCE JIO INFOCOMM
SECURITISATION PROCEEDS UTILISED TO REPAY HIGH COST RUPEE DEBT, WITH SIGNIFICANT INTEREST COST SAVINGS
SECURITISATION COMPLETED WITH INDIAN AND FOREIGN BANKS
DELIVERIES OF INTER CITY FIBRE LINKS TO RELIANCE JIO ALREADY COMMENCED
TOTAL DELIVERIES OF 1,20,000 KMS INTER CITY FIBRE TO BE COMPLETED WITHIN CURRENT FINANCIAL YEAR
Mumbai, 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 Communications Limited:
Reliance 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, SA, Europe, Middle East and the Asia Pacific region.
