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Rediff News  All News  » Business » RCom pays foreign debt of Rs 3,100 cr on schedule

RCom pays foreign debt of Rs 3,100 cr on schedule

January 03, 2014 16:42 IST

ReutersReliance Communications said on Friday that it has fully repaid syndicated ECB (external commercial borrowing) loan of Rs 3,100 crore ($500 million) on schedule.

With this payment, the telecom operator's net debt has come down to about Rs 38,000 crore (Rs 380 billion), from Rs 41,169 crore (Rs 411.69 billion) as on September 30.

In the current fiscal, 2013-14, RCom had earlier made full payment of two other syndicated ECB loans aggregating to $1 billion (Rs 6,200 crore) and bilateral ECB of more than $310 million (Rs 1,900 crore), the statement said.

"With these repayments, RCom has now fully liquidated the borrowings from 23 foreign banks and financial institutions," the company said.


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