Reliance Communications to borrow $1.18 billion from China
Reliance Communications Ltd., the flagship company of billionaire Anil Ambani, will borrow $1.18 billion from Chinese banks to help redeem India's biggest convertible debt maturing this year.
Reliance Communications, country's second-largest mobile-phone operator, said it paid about Rs 5,000 crore of debt ahead schedule to cut interest costs.