RCom securitises Rs1200cr from deal with Reliance Jio

Reliance Communication today securitised about Rs 1,200 crore from the inter city optic fibre deal with Reliance Jio Infocomm. This basically means that the delivery of the inter city optic fibre links have been commenced, reports CNBC-TV18’s Kritika Saxena.

Also read: Reliance Communications to demerge real estate business The deal was struck in April this year by Ambani brothers. Securitisation generally refers to raising money by providing some collateral with lenders. Through this deal, the company has been able to repay high cost debt to Indian and foreign banks. RCom's total debt of around Rs 38,000 has now roughly been brought down by Rs 1200 crore, i.e. to Rs 37,800 crore. The company has also said that their total deliveries of 1.2 lakh kilometer inter city will be done within this fiscal.