Reliance Communications (RCOM) Bondholders have approved the "Tender and Exchange" offer of $300 million Bonds, the company said on Friday.
According to the company, the offer got the approval of an overwhelming majority of over 83 per cent of Bondholders at a meeting held in London.
"Pursuant to the offer as approved, the Bondholders will receive cash proceeds of up to $118 million," the company said in a statement.
"The Bondholders will also get $55 million Bonds to be issued by Global Cloud Xchange Limited (holding Company of GCX), a foreign subsidiary of RCOM."
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