Reliance Communications clears debt of Rs 6000 cr - Indian Express

PTI : New Delhi, Mon Jul 01 2013, 14:22 hrs Reliance Communications today said it has made full repayment of two loans amounting to $1 billion. (Reuters) Reliance Communications today said it has made full repayment of two loans amounting to USD 1 billion (around Rs 6,000 crore), during the June quarter. The company has completed full repayment of two Syndicated ECB loan facilities of USD 500 million each, which were availed in 2007 from a group of international banks, during the quarter ended June 30 2013, Reliance Communications said in a statement. STOCK MARKETS LINKS * BSE Sensex * NSE Nifty In addition, RCom has made scheduled repayments of another USD 207 million (Rs 1,200 crore) in respect of other foreign currency loans, on the respective due dates during the April-June quarter. The repayments have been from the company's rupee resources. Reacting to the announcement, shares of the company surged as much as 5.50 per cent to touch an early high of Rs 124.60 in morning trade on the BSE. "RCom's foreign currency debt is steadily declining every year, and the interest outgo on such debt is fully covered by USD denominated earnings from the Reliance Globalcom business," the statement added. ALSO READ Gold futures prices rebound on firm global cues Nokia to buy Siemens' stake in NSN for 1.7 bn euros United Spirits jumps over 6% after Morgan Stanley buys stake Infosys Ltd may cut FY14 revenue guidance: Morgan Stanley Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGtFxyEQsmllPcKZznbhFLNiH5k8g&url=http://www.indianexpress.com/news/reliance-communications-clears-debt-of-rs-6000-cr/1136187/

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