Indian mobile network operator Reliance Communications (RCom) is currently in talks with China Development Bank (CDB) for a loan to redeem a US$925m convertible bond maturing in March, according to a Reuters report.
Citing a source close to the…
Indian mobile network operator Reliance Communications (RCom) is currently in talks with China Development Bank (CDB) for a loan to redeem a US$925m convertible bond maturing in March, according to a Reuters report.
Citing a source close to the matter, the newswire added that RCom was likely to approach other Chinese lenders about syndicating the loan.
In December 2010, the operator had already raised a US$1.93bn syndicated loan with CDB to refinance part of its debt and buy Chinese telecoms equipment from Huawei and ZTE.
Meanwhile, RCom is reportedly still in discussions with private equity firms Blackstone and Carlyle to sell its tower unit Infratel. Such a sale would allow it to substantially reduce its US$7bn debt load.
