Reliance Communications’ Global Cloud Xchange to Raise Rs 1500 crore Through Overseas Bond Issue

Comments Off on Reliance Communications’ Global Cloud Xchange to Raise Rs 1500 crore Through Overseas Bond Issue 20

Global Cloud Xchange, the international business unit of Reliance Communications, is in early talks to raise over $250 million (about Rs 1,500 crore) through an overseas bond issue, a person familiar with the matter said.

“The company is in preliminary talks with investors to raise funds through an issue of overseas bonds. This is to mainly gauge investor interest and the final size of the offering and issue details will be finalised at a later stage,” the person said.

He added that Global Cloud Xchange (GCX) will use the funds to pay off the $250 million that it owes to its immediate parent, Reliance Globalcom BV — a whollyowned unit of RCom — and the rest for capital expenditure. Executives at Reliance Communications and Global Cloud Xchange declined to comment.  Read More at The Economic Times

Wahengbam Rorrkychand

View all contributions by Wahengbam Rorrkychand

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

Similar articles

Get in Touch

Phone: +91 80 4093 6921
Web: www.tonsetelecom.com

NewsLetter