Rel Comm ties up refinancing for FCCB redemptions

Reliance Communications has tied up refinancing for FCCB redemptions of USD 1.18 billion, reports CNBC-TV18.

The company's FCCB redemption is due on March 1, 2012. China Development Bank, ICBC and EXIM China are going to finance Rel Comm.
Reliance Communications touched an intraday high of Rs 91.30 and an intraday low of Rs 86.65. At 13:55 hrs the share was quoting at Rs 89.00, up Rs 2.55, or 2.95%.
 
It was trading with volumes of 2,712,595 shares. In the previous trading session, the share closed down 1.20% or Rs 1.05 at Rs 86.45.