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Reliance Communications (RCOM) $300 mn bonds approved

Reliance Communications (RCOM) $300 mn bonds approved

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  25 Aug 2018 6:40 AM GMT

MUMBAI/LONDON: Reliance Communications (RCOM) Bondholders have approved the “Tender and Exchange” offer of $300 million Bonds, the company said on Friday. According to the company, the offer got the approval of an overwhelming majority of over 83 per cent of Bondholders at a meeting held in London. “Pursuant to the offer as approved, the Bondholders will receive cash proceeds of up to $118 million,” the company said in a statement. “The Bondholders will also get $55 million Bonds to be issued by Global Cloud Xchange Limited (holding Company of GCX), a foreign subsidiary of RCOM.” (IANS)

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