December 6th, 2017 7:14 PM 4 COMMENTS

Two Major Chinese Lenders to Support China Development Bank’s Insolvency Plea Against RCom

Reliance Communications' two other major Chinese lenders -- Industrial and Commercial Bank of China (ICBC), the country's biggest-listed lender by assets, and Export-Import Bank of China, plan to back China Development Bank's recent move to take the Anil Ambani-led telco into insolvency court to recover about $2 billion in debt. The development comes just after Fitch Ratings said that it has withdrawn India-based Reliance Communications' for commercial reasons, and said... Read More

June 25th, 2017 8:26 PM 24 COMMENTS

After RCom, Tata Teleservices Approaches Lenders to Restructure Debt: Reports

Tata Teleservices (TTSL) has reportedly approached its lenders, including the State Bank of India (SBI), to seek a restructuring of its debt, becoming the second telco to seek debt restructuring after Anil Ambani-owned Reliance Communications (RCom). The telco wants bankers to restructure about Rs 30,000-crore of its total Rs 40,000-crore debt, which includes Rs 8,000-crore of deferred spectrum payments, according to a report by Business Line. The Tata Group-owned telecom... Read More

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