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RCOM to convene bondholders meeting to seek approval for asset monetisation plan

February 13, 2018

Reliance Communications (RCOM) has called a meeting of bondholders worth $300 million on March 6, 2018 in London. The meeting is being held for the purpose of considering, and if deemed fit, passing, certain proposals relating to its asset monetisation plan.

RCOM has proposed to make a partial redemption of bonds at face value and also a reduction of coupon rate and extension of the maturity period for the bonds remaining after redemption by eight years to 2028. Further, bondholders will be considered at par with secured lenders.

The bonds in question were issued in May 2015 at 6.5 per cent interest and are due for maturity 2020.

 
 

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