Reliance Communications has completed the securitisation of proceeds under the Rs. 1,200 crore (US$ 200 million) intercity Fibre Agreement signed with Reliance Jio Infocomm Ltd in April 2013.
The proceeds from securitisation have been utilised to repay high cost rupee debt, resulting in significant interest cost savings for RCOM. The securitisation has been completed with Indian and foreign banks.
"Deliveries of inter city fibre links to Reliance Jio have already commenced. The total deliveries of 1,20,000 kms inter city fibre under the Agreement are expected to be completed within the current financial year," the firm said in a release.
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