Reliance Communications (RCom) has announced its exit from RBI’s SDR framework, with zero equity conversion and zero loan write-offs for lenders and bond holders. Upon completion of all transactions as announced, the balance debt in RCom is expected to be Rs 6,000 crore only, representing reduction of over 85% of total debt. The company has worked closely with all Lenders and SBI Capital Markets, the advisors appointed by the Lenders, to run a competitive process in a transparent manner to monetize its valuable assets.
The monetization process is being carried out under the oversight of an independent high powered Bid Evaluation Committee, comprising of eminent experts from banking, telecom and law. The monetization of assets has elicited very strong response both from India and abroad.
RCom is India’s foremost and truly integrated telecommunications service provider.
