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Aug 7, 2018 | RCom announces tender and exchange offer for $300 million bond holders due 2020; proposes to buy notes at a discount

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New Delhi: Debt-ridden Reliance Communications on Monday announced a 'tender and exchange' offer to all holders of its outstanding $300 million bonds due 2020, proposing to buy the notes at a discount in cash. According to a regulatory filing, the company has offered to all holders of the outstanding $300 million senior secured 6.5 percent notes due 2020 to buy any or all existing notes at a discount in cash. It has also offered an option to exchange any or all existing notes due 2020 at a discount for $45 million zero-coupon notes due 2023. The new notes would be issued by a "wholly-owned subsidiary of RCOM, Global Cloud Xchange Limited", according to the regulatory filing.

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