Dec 15, 2006

Reliance Communication raised a 5-year unsecured loan for US$ 1 bn.

Reliance Communication has raised a 5-year unsecured loan for US$ 1 bn. This is one of the largest overseas loan raised by an Indian telecommunications company. The proceeds are likely to be used for expansion of networks and facilities. Earlier in the month of November this year, the chairman Mr. Anil Ambani had stated that the company needed around US$ 1.5 bn capex for the current year. The money raised is likely to be used by Reliance Communication for its continued foray into the GSM market, by having a pan India presence.

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