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RCOM pays advance redemption of $1182 million for outstanding FCCBs

29 Feb 2012 Evaluate

Reliance Communication (RCOM), India's largest integrated telecom service provider, has made payment of $1182 million to make the largest ever redemption of all the outstanding Foreign Currency Convertible Bonds (FCCBs) from the $1000 million issued in February 2007 and due on March 1, 2012.

The company has made payment to the principal Agent of FCCB - Deutsche Bank Ag, London Branch. Further, the redemption amount is inclusive of the premium of 27.69%. However, post the redemption of these FCCBs, the paid up capital of the company remains unchanged. Accordingly, Reliance Communication will not be required to allot 6.17 crore equity shares of Rs 5 each arising out of potential conversion of said FCCBs.

Reliance Communications is India's foremost and truly integrated telecommunications service provider. The company 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 Communs. Share Price

0.87 -0.01 (-1.14%)
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