Reliance Communications Ltd (RCom) on Wednesday said that the organization's bondholders have approved its Assets sales plan, including its choice to sales its assets to Reliance Jio Infocomm Ltd and sale of other real estate also.
RCom said its bond holders have additionally acknowledged part pre-payment through bonds that were due to mature in 2020.
"The holders of the organization's $300 million bonds, at their meeting held on 20th March 2018 in London, have approved with majority the sale of assets to Reliance Jio Infocomm Limited and furthermore monetization of other real estate resources," RCom said in an announcement.
"The bondholders additionally approved releasel of their security on the organization's assets and to acknowledge part prepayment of their outstanding bonds," the announcement included.
Anil Ambani had in December said that his organization had consented to another debt resolution plan for that would see RCom selr its assets, including spectrum, tower, optical fiber network and other wireless infrastructure, yet did not involve lenders and bond holders writing off dues or converting it into equity. Through this procedure, RCom would have liked to cut its debts by Rs39,000 crore from the Rs45,000 crore it owed to lenders.
