India's GCX to Xchange loan for proposed senior bond

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By Virginia Furness
17 Jul 2014

Global Cloud Xchange (GCX), a subsidiary of Indian telecom firm Reliance Communications, has mandated for its debut international bond.

The borrower has mandated Deutsche Bank and Standard Chartered for a proposed issue of dollar-denominated senior secured guaranteed notes.

Proceeds will be used to repay a $250m shareholder loan that GCX took from parent Reliance Communications and its subsidiaries, according to Moody’s. Equity interest and assets released from ...

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