 "Anil Ambani, RCom")
Bonds that Reliance Communications Ltd. defaulted on last year slumped to a seven-month low on Tuesday, after the Indian mobile operator controlled by billionaire Anil Ambani offered to repay holders at a discount to the principal value.
The firm, which is set to meet with bondholders on Aug. 10, has been trying to close a sale of wireless assets to Reliance Jio Infocomm Ltd. that would raise money to help pay creditors.
Reliance Communications’ 2020 dollar notes fell 2 cents on the dollar to 43 cents as of 6:00 p.m. in Hong Kong, the lowest since December, according to prices compiled by
