Reliance Communications has announced that the company has completed securitization of Rs 1200 cr inter-city OFC deal with Reliance Jio Infocomm. The inter-city fiber agreement between the two Ambani brothers’ companies was signed in April this year.
Reliance Jio is being delivered the inter-city fiber links for few months already. The whole process will be completed within this financial year, as expected. Reliance Jio is in the process to roll out 4G/LTE-TD services across the country. Expected roll out time is end of 2013. Delhi, Mumbai and Jamnagar are the first cities to get Reliance Jio’s 4G services.
The securitization of the Rs 1,200 cr deal (US $200 million) was completed with Indian and foreign banks. Though official statement does not read which banks are involved in this process.
RCom says following the securitization the company will initiate repay the high Rupee loans with significant interest cost savings.