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Global Cloud extends forbearance agreement with bondholders
By Marisa Wong
Los Angeles, Sept. 3 – 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. 13.
The extension allows for more time to discuss options related to the notes, according to a news release.
The forbearance agreement was originally entered into on July 31 and was previously extended until 5 p.m. ET on Sept. 1.
Global Cloud Xchange is a subsidiary of Indian mobile network provider Reliance Communications Ltd. Its headquarters are in Hamilton, Bermuda.
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