Reliance Communications (RCom) on Friday said it has fully repaid an overseas debt of Rs 3,100 crore on schedule. It has fully repaid another syndicated ECB (external commercial borrowing) loan of $500 million, Rs 3,100 crore approximately, on the scheduled due date on Friday, RCom said in a statement.
With this payment, the telecom operator's net debt has come down to about Rs 38,000 crore, from Rs 41,169 crore as on September 30. In the current fiscal, 2013-14, RCom had earlier made full payment of two other syndicated ECB loans aggregating to $1 billion (Rs 6,200 crore) and bilateral ECB of more than $310 million (Rs 1,900 crore), the statement said.
With these repayments, RCom has now fully liquidated the borrowings from 23 foreign banks and financial institutions, the company said. RCom scrip closed 1.19 per cent higher on the BSE.
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