RCom pays foreign debt of Rs 3,100 on schedule

Reliance Communications today said it has fully repaid an overseas debt of Rs 3,100 crore on schedule.

"It has fully repaid another syndicated ECB (external commercial borrowing) loan of USD 500 million, Rs 3,100 crore approximately, on the scheduled due date today," RCom said in a statement.

With this payment, the telecom operator's net debt has come down to about Rs 38,000 crore, from Rs 41,169 crore as on September 30.

In the current fiscal, 2013-14, RCom had earlier made full payment of two other syndicated ECB loans aggregating to USD 1 billion (Rs 6,200 crore) and bilateral ECB of more than USD 310 million (Rs 1,900 crore), the statement said.

"With these repayments, RCom has now fully liquidated the borrowings from 23 foreign banks and financial institutions," the company said.

RCom scrip was trading at Rs 132.15, up by 1.54 per cent, in afternoon session on the BSE.