Mumbai, July 11 : Reliance Communications Thursday said it has completed securitisation of proceeds under the Rs. 1,200-crore inter-city fibre agreement signed with Reliance Jio Infocomm in April 2013.

It also said the proceeds from securitisation have been utilised to repay high cost rupee debt, resulting in significant interest cost savings for the company.

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,” , the company said in a statement. (IANS)