RComm Indicates Secured Dollar Bonds At 6.5% Area

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India’s Reliance Communications is marketing a 5.5-year US dollar bond to yield around 6.5%.

The Reg S-only senior secured notes come with a security package that includes tower assets and optic fibre cables, as well as certain telecommunications licences and a pledge over RComm’s equity stake in Reliance Communications Infrastructure and all the shares held by the issuer and Reliance Infocomm Infrastructure in Reliance Telecom.

The notes also carry standard high-yield covenants, including a minimum fixed-charge coverage ratio of 2.25x. Click here for full post

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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