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Indian-Commodity  :  Corporate  :  RCom presents 'Zero Loan Write-off Plan' to lenders

RCom presents 'Zero Loan Write-off Plan' to lenders (31-Oct-2017)

Reliance Communications (RCom) has made a comprehensive debt resolution plan to its domestic and foreign Lenders. The company's debt resolution plan envisages no loan write-off by the lenders. RCom will pay off up to Rs 17,000 crore of its debt, out of the proceeds of monetization of Spectrum, Towers and Fiber and MCN (Media Convergence Nodes) assets. RCom will pay additional Rs 10,000 crore of its debt, out of the proceeds of sales and commercial development of DAKC and other prime real estate assets across 8-metros.

RCom is working closely with SBI Capital Markets, the advisors appointed by the Lenders, to run a competitive process in a transparent manner to monetize the Spectrum, Tower and Fiber, MCNs and prime real estate assets. The company will also monetize its extensive Tower and Fiber portfolio comprising of 43,000 plus towers and over 1,78,000 Route KM of Intercity and Intracity Fiber. The debt of Rs 7,000 crore is proposed to be converted into 51% of the company's equity, as per the SDR guidelines of the Reserve Bank of India.

Reliance Communications is India's foremost and truly integrated telecommunications service provider. The company has a customer base of around 75 million, including over 2.6 million individual overseas retail customers.



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