Global Cloud Xchange extends forbearance agreement with bondholders

Chicago, Aug. 15 – Global Cloud Xchange Ltd. announced that the forbearance agreement with a group comprised of 87% of the holders of the $350 million 7% senior secured notes issued by GCX Ltd. has been extended until 5 p.m. ET on Sept. 1.

The extension allows for more time to discuss options related to the notes and continue evaluating opportunities to restructure GCX’s debt, according to a news release.

The forbearance agreement was originally entered into on July 31.

Global Cloud Xchange, a subsidiary of Reliance Communications Ltd., offers a comprehensive portfolio of solutions customized for carriers, enterprises and new media companies. It is based in London.

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