RCom draws 1,200 Crore as final tranche from CDB

Friday, 27 May 2011, 19:50 IST
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Mumbai: Anil Ambani group firm Reliance Communications today said it has drawn the third and final tranche of Rs 1,200 crore ($266 million) from the Rs 8,700 crore ($1.93 billion) loan facility it secured from China Development Bank. "Reliance Communications has drawn down third and final tranche of Rs 1,200 crore ($266 million) toward refinancing of 3G spectrum fees out of the Rs 8,700 crore (USD 1.93 billion) facility signed with China Development Bank (CDB) on March 9, 2011," RCom said in a filing to the Bombay Stock Exchange (BSE). The facility includes Rs 6,000 crore ($1.33 billion) for refinancing RCom's 3G spectrum fee payments and Rs 2,700 crore ($600 million) for equipment imports from Chinese vendors.
Source: PTI
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