Global Cloud Xchange Announces Extension of Forbearance Agreement
Global Cloud Xchange (GCX) today announced that the July 31, 2019, forbearance agreement that was entered into by 87 percent of its bondholders has been extended until 5:00pm (EDT) on September 1, 2019, which provides additional time to discuss options related to the $350m 7.00% Senior Secured Notes issued by GCX Limited.
During this time, GCX will continue evaluating opportunities to restructure its debt in a manner that best positions the company for long-term growth and success.
ABOUT GLOBAL CLOUD XCHANGE
Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (News - Alert), offers a comprehensive portfolio of slutions customized for carriers, enterprises and new media companies. GCX owns the world's largest private undersea cable system spanning more than 68,000 route kms which, seamlessly integrated with Reliance Communications' 200,000 route kms of domestic optic fiber backbone, provides a robust Global Service Delivery Platform. With connections to 40 key business markets worldwide spanning Asia, North America, Europe and the Middle East, GCX delivers leading edge next generation Enterprise solutions to more than 160 countries globally across its Cloud Delivery Network. www.globalcloudxchange.com