RCom’s Submarine Cable Arm Global Cloud Xchange Raises $350M Via Bond Sale Overseas

By VCCircle

Anil Ambani-led Reliance Communications Ltd’s submarine cable subsidiary Global Cloud Xchange has raised $350 million through five-year bonds in the international markets, as per a press release.

Of the total money raised, $250 million will be used to refinance the Standard Chartered Bank loan facility, the company’s arm Reliance Globalcom BV had availed. Remaining will be used for capital expenditure and general corporate purposes.

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2014-07-25T12:49:19+00:00 July 25th, 2014|Technology & Upgrades|