RCom Bondholders To Meet On August 10 On Proposed Bond Restructuring

Debt-laden Reliance Communications Ltd. today said it has convened a meeting of the holders of its $300 million 'senior secured notes' in London on August 10 for the proposed restructuring of the bonds.

"Reliance Communications has convened a meeting of the holders of its $300 million senior secured notes due 2020 for the purpose of considering, and if thought fit, passing, certain proposals relating to the restructuring of the bonds...," the company said in a regulatory filing.

Earlier this week, Reliance Communications saw narrowing of its consolidated loss to Rs 342 crore for the quarter ended June 30, 2018. The company had reported a loss of Rs 1,245 crore in the same period a year ago.

The Anil Ambani-led firm had posted a loss of Rs 19,728 crore in the January-March 2018 period.

RCom has been admitted into a debt resolution process under the Insolvency and Bankruptcy Code, 2016 but that was suspended last month.