RCom clears Rs 6000-cr foreign currency loans - Hindu Business Line

Mumbai, July 1:   Reliance Communications said on Monday that it has fully repaid two loans amounting to $1 billion (around Rs 6,000 crore) during the quarter ended June 30, 2013. The two syndicated ECB loan facilities of $500 million each were availed in 2007 from a clutch of foreign banks, RCom said in a media release In addition, RCom has made scheduled repayments of another $207 million (Rs 1,200 crore) against other foreign currency loans. The repayments have been from the company's rupee resources, it said. "RCom's foreign currency debt is steadily declining every year, and the interest outgo on such debt is fully covered by US dollar denominated earnings from the Reliance Globalcom business," the RCom statement added. (This article was published on July 1, 2013) via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFbZlTp5tUtLormL1fl2Si7x7ZDkg&url=http://www.thehindubusinessline.com/industry-and-economy/info-tech/rcom-clears-rs-6000cr-foreign-currency-loans/article4868843.ece

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