RCom draws down $255mn via ECB for 3G spectrum

MUMBAI: Reliance Communications has drawn down $ 255 million around Rs. 1155 crore by way of external commercial borrowing to part refinance resources for 3G spectrum fee payment to the department of telecommunications.

This loan is funded by a consortium of banks led by Australian and New Zealand Banking Group, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank and Intesa Sanpaolo S.p.a.

The scrip was at Rs 131.90, up 0.19 per cent on the NSE. It touched a high of Rs 133.70 and low of Rs 130.10 in trade so far. Around 31.84 lakh shares were traded in the counter.