Moneycontrol
Last Updated : Aug 24, 2018 03:20 PM IST | Source: Moneycontrol.com

Reliance Comm up 5% after bond holders approve exchange offer of bonds worth USD 300 mn

The bond holders will receive monetization proceeds upto USD 118 mn.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Reliance Communications added 5.5 percent intraday Friday as company's bond holders approved the exchanged offer of bonds worth USD 300 million.

The bond holders will receive monetization proceeds upto USD 118 mn.

The balance amount of USD 182 million will be exchanged with USD 55 million bonds to be issued by Global Cloud Xchange (GCX), a foreign subsidiary of the company.

"Reliance Communications bond holders, approved the exchange offer of USD 300 million bonds with overwhelming majority of over 83 percent, at their meeting held today on August 24, 2018, at London," company said in release.

The new GCX bonds will be unlisted, unsecured and shall have half yearly coupon of 0.1 percent with tenure of four years.

At 14:56 hrs Reliance Communications was quoting at Rs 19.31, up Rs 0.46, or 2.44 percent on the BSE.

The share rose 45 percent in last 1 month.

Posted by Rakesh Patil
First Published on Aug 24, 2018 03:06 pm
Loading...
Sections
Follow us on
Available On