Reuters
By Una Galani
(The author is a Reuters Breakingviews columnist.)
MUMBAI, Nov 14 (Reuters Breakingviews) – Anil Ambani’s Reliance Communications may yet offer comfort to creditors – though not necessarily its own. The tycoon’s Mumbai-listed telecom group missed a payment on a $300 million U.S. dollar bond due in 2020. Offshore bondholders could claim a default, testing the new insolvency regime India established last year. A credible, speedy process would further boost the country’s booming bond market.
All told, RCom owes some $7 billion. The company has a standstill deal with bank lenders unti…
Read the full article at: http://www.nasdaq.com/article/rcom-sets-up-trial-run-for-indian-bankruptcy-rules-20171114-00487
