Reliance Communications (RCom) has soared 6% to Rs 125 after the company it has completed full repayment of two syndicated external commercial borrowing (ECB) loans of $500 million each (around Rs 6,000 crore), during the quarter ended June 30, 2013.
These loans were availed in the year 2007 from a group of international banks, RCom said in a media release.
In addition, RCom has made scheduled repayments of another US$ 207 million (Rs 1,200 crore) in respect of other foreign currency loans, on the respective due dates during the quarter ended June 30, 2013. The repayments have been from company’s rupee resources, it added.
Anil Ambani promoted telecom services provider said that the company’s foreign currency debt is steadily declining every year, and the interest outgo on such debt is fully covered by US$ denominated earnings from the Reliance Globalcom business.
The stock opened at Rs 119 and hit a high of Rs 126 so far on NSE. A combined 13.88 million shares have changed hands on the counter till noon deals on NSE and BSE.
These loans were availed in the year 2007 from a group of international banks, RCom said in a media release.
In addition, RCom has made scheduled repayments of another US$ 207 million (Rs 1,200 crore) in respect of other foreign currency loans, on the respective due dates during the quarter ended June 30, 2013. The repayments have been from company’s rupee resources, it added.
Anil Ambani promoted telecom services provider said that the company’s foreign currency debt is steadily declining every year, and the interest outgo on such debt is fully covered by US$ denominated earnings from the Reliance Globalcom business.
The stock opened at Rs 119 and hit a high of Rs 126 so far on NSE. A combined 13.88 million shares have changed hands on the counter till noon deals on NSE and BSE.
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