RCom’s GCX looks to cut bond debt by $150m

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By Addison Gong
16 Sep 2019

Global Cloud Xchange (GCX), a subsidiary of India’s Reliance Communications, has filed for bankruptcy protection with a US court, and plans to carry out a potential debt-to-equity swap that could reduce its bond debt by $150m.

The data communications service provider filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on Sunday September 15, along with a joint prepackaged plan of reorganisation.

Holders of about 76% of GCX’s $350m 7% 2019 senior secured notes have agreed to a balance sheet ...

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