Reliance Communication Bond holders approve monetization and exchange offer

Reliance Communications Bond Holders, approved the exchange offer of US$ 300 million Bonds with overwhelming majority of over 83%, at their meeting held on 24 August 2018, at London.

Pursuant to the Exchange Offer, the Bond Holders will receive monetization proceeds upto US$ 118 mn. The balance amount of US$ 182 mn will be exchanged with US$ 55 million Bonds to be issued by Global Cloud Xchange Limited (GCX), a foreign subsidiary of RCOM.

The New GCX Bonds will be unlisted, unsecured and shall have half yearly coupon of 0.1% with tenure of four years.

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