RCom in loan talks with China Dev Bank

Reliance Communications is in the early stages of talks with state-owned China Development Bank (CDB) for a syndicated loan of $925 million, the same size as the convertible bond, a source said.

The bank is likely to approach other Chinese lenders about syndicating the loan, the source said. Terms are still to be worked out, and a loan is not likely to be launched until February.

Reliance Communications, which has borrowed from the Chinese lender in the past, has also discussed with CDB the possibility of borrowing Chinese currency in India, the person said. CDB arranged loans worth $1.93 billion last March.

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