Will clear Rs 25,000 cr. debt by Sep 30: RCom tells lenders

TIL Desk/Business/New Delhi/ Debt laden telecom operator Reliance Communications has said it has told lenders that it would repay Rs 25,000 crore before September 30 this year, expected to be generated from two business deals.

“RCom has formally advised all its lenders that it will be making repayment of an aggregate amount of Rs 25,000 crore from the proceeds of these two transactions, on or before September 30, 2017,” RCom said in a statement. RCom’s net debt stood at a whopping Rs 44,345.30 crore as on March 31 this year.

The assertion comes at a time when there are growing conerns over the company’s debt repayment capability. There have been reports saying that the company defaulted on its loan obligations with more than 10 local banks.

RCom said that the Rs 25,000 crore that it plans to pay will cover not only all scheduled repayments, but also include substantial pre-payments to all lenders on a pro-rata basis.