RCOM to raise Rs 130 billion debt

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RCOM to raise Rs 130 billion debt

March 15, 2009

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Reliance Communications (RCOM) intends to raise debt worth Rs 130 billion over the next three months to meet certain capex requirements and scheduled debt repayment obligations. Of the total, the company is planning to raise Rs 100 billion through a long-term fund-based facility and the remaining Rs 30 billion through a nonconvertible debenture issue. The debt is part of the Rs 240 billion in capex that RCOM has earmarked for the January 2009 to March 2010 period, along with the Rs 150 billion in capex that the company has reserved for financial year 2010-11.