Overseas bondholders approve plan to ease RCom’s debt burden1 min read 24 Aug 2018, 03:53 PM IST
Reliance Communications has been working against the clock to reach agreements with all its creditors by 27 August or face insolvency proceedings
Mumbai: Anil Ambani-led Reliance Communications Ltd clinched the approval of its overseas bondholders to ease the carrier’s debt burden, putting the company a step closer to averting bankruptcy. The operator, which defaulted last year on a $300-million bond, got 83% of bondholders to approve the plan, the company said in an exchange filing.
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