The bonds have been rated 'Ba3' by Moody's and 'BB-' by Fitch Ratings. The issue arrangers were Standard Chartered Bank and DBS Bank.
Reliance Communications conducted its first international bond issue on Monday. The company has raised $300 million through Regulation S (Reg S) bonds for capital expenditure or any other permissible end-use as prescribed by the RBI.
The bonds have been rated 'Ba3' by Moody's and 'BB-' by Fitch Ratings. The issue arrangers were Standard Chartered Bank and DBS Bank.
RCom said in a statement that the company has launched, closed and priced the issue of notes on April 27, 2015. The notes have a tenor of 5-1/2 years due in 2020 and carry a coupon of 6.5 per cent per annum, payable semi-annually. The notes are expected to be settled by May 6, 2015. The notes will be listed on the Singapore Stock Exchange.
According to Fitch, RCom will use part of the note proceeds to fund the $173 million up-front payment for spectrum won in the March auction and the rest for capital expenditure.
The bonds have been rated 'Ba3' by Moody's and 'BB-' by Fitch Ratings. The issue arrangers were Standard Chartered Bank and DBS Bank.
RCom said in a statement that the company has launched, closed and priced the issue of notes on April 27, 2015. The notes have a tenor of 5-1/2 years due in 2020 and carry a coupon of 6.5 per cent per annum, payable semi-annually. The notes are expected to be settled by May 6, 2015. The notes will be listed on the Singapore Stock Exchange.
According to Fitch, RCom will use part of the note proceeds to fund the $173 million up-front payment for spectrum won in the March auction and the rest for capital expenditure.
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