Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.
The repayments have been from the company's rupee resources.
In a statement, the telecom company said it has completed full repayment of two Syndicated external commercial borrowing (ECB) loan facilities of $500 million each, which were availed in 2007 from a group of international banks.
"RCom's foreign currency debt is steadily declining every year, and the interest outgo on such debt is fully covered by USD denominated earnings from the Reliance Globalcom business," the statement added.
In addition, RCom has made scheduled repayments of another $207 million (Rs 1,200 crore) in respect of other foreign currency loans, on the respective due dates during the April-June quarter.
Reacting to the announcement, shares of Reliance Communications surged 5.50 per cent to touch an early high of Rs 124.60 in morning trade on the Bombay Stock Exchange.
With inputs from PTI
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