Reliance Communications Limited (RCOM) has completed the securitisation of proceeds under the Rs 12 billion intercity fibre agreement signed with Reliance Jio Infocomm Limited in April 2013.
Further, the proceeds from this process have been utilised to repay high cost rupee debt, resulting in significant interest cost savings for RCOM.
The securitisation has been completed with Indian and foreign banks. RCOM has already started providing inter-city fibre links to Reliance Jio Infocomm Limited. As per the agreement RCOM will deliver about 1,20,000 kms of inter city fibre to Reliance Jio Infocomm Limited in 2013.
