Reliance Communications (RCOM) today announced that it has completed securitisation of proceeds under the Rs. 1,200 crore (US$ 200 million) intercity Fibre Agreement signed with Reliance Jio Infocomm Ltd. in April 2013.

“The proceeds from securitisation have been utilised to repay high cost rupee debt, resulting in significant interest cost savings for RCOM” said in a stament.

Rcom said that the securitisation has been completed with Indian and foreign banks. Deliveries of inter city fibre links to Reliance Jio have already commenced. The total deliveries of 1,20,000 kms inter city fibre under the Agreement are expected to be completed within the current financial year.

In April Mukesh Ambani- controlled Reliance Jio Infocomm had entered into Rs 1200 crore pact with brother Anil Ambani's Reliance Communications to share latter’s nationwide optic fiber network. RCom has 1,20,000 kms of nationwide inter-city optic fiber network.

RCom will have reciprocal access to fibre infrastructure built by Reliance Jio Infocomm in future.

The agreement provides for joint working arrangements to be put in place immediately for upgradation of the optic fiber network, to ensure seamless delivery of next generation services.

For best mobile phone deals:http://shopping.telecomtiger.com/

For latest updates on facebook: http://www.facebook.com/pages/TelecomTiger/429104257149437