(Bloomberg) -- Reliance Communications Ltd., India's
second-biggest mobile phone company, will pay less interest on a
$1 billion loan after its profit more than doubled to a record,
said three bankers involved in the financing.
The company, which added 1.4 million new subscribers last
month, is paying interest of 54 basis points more than the London
interbank offered rate, a borrowing benchmark, according to the
bankers, who declined to be identified before a company
announcement. The premium is about half of what the company pays
on a $500 million loan borrowed last year, according to data
compiled by Bloomberg.
Read more at Bloomberg Emerging Markets News
second-biggest mobile phone company, will pay less interest on a
$1 billion loan after its profit more than doubled to a record,
said three bankers involved in the financing.
The company, which added 1.4 million new subscribers last
month, is paying interest of 54 basis points more than the London
interbank offered rate, a borrowing benchmark, according to the
bankers, who declined to be identified before a company
announcement. The premium is about half of what the company pays
on a $500 million loan borrowed last year, according to data
compiled by Bloomberg.
Read more at Bloomberg Emerging Markets News
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