Reliance Communications has drawn-down a second tranche of US$400 million from a US$1.93 billion loan supplied by China Development Bank, having accessed US$665 million during March 2011. The company said that “with this draw, RCOM has already drawn US$1.06 billion towards refinancing of 3G spectrum fees, and the last tranche is expected to be drawn very shortly.” The loan deal was inked earlier this year, and also includes a US$600 million provision intended to be used for the purchase of kit from Huawei and/or ZTE.
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