Latest news with #TCIL
Business Wire
3 days ago
- Business
- Business Wire
Triton International Limited Subsidiary Commences Consent Solicitation From Fixed Rate Note Holders
HAMILTON, Bermuda--(BUSINESS WIRE)--August 6, 2025-- GCI Funding I LLC ('GCI Funding') today announced that, in connection with the acquisition on July 1, 2025 of GCI Funding and certain of its affiliates by Triton Container International Limited ('TCIL'), a wholly-owned subsidiary of Triton International Limited ('Triton'), GCI Funding has commenced a consent solicitation (the 'Consent Solicitation') to amend certain agreements (the 'Note Agreements') relating to its prior issuance of fixed rate notes secured by pools of intermodal containers (the 'Containers'). The amendments to the Note Agreements are intended, among other things, (i) to permit TCIL to manage the Containers on behalf of GCI Funding in a manner consistent with TCIL's management of intermodal containers owned by TCIL and its subsidiaries and (ii) to more closely conform default events, financial tests and other provisions in the Note Agreements to similar provisions in the agreements governing outstanding secured indebtedness of TCIL and its subsidiaries. The Consent Solicitation pertains to the following series of fixed rate notes (the 'Notes'): The consents relate to proposed amendments to the indenture and the supplemental indenture governing the Notes and the related management agreement and manager transition agreement, the amendment and restatement of GCI Funding's operating agreement and the joinder of GCI Funding to an intercreditor agreement and related account control agreement to which TCIL and certain of its subsidiaries are party (collectively, the 'Proposed Amendments'). The Consent Solicitation is being made in accordance with the terms and subject to the conditions set forth in a Consent Solicitation Statement, dated August 6, 2025. The Consent Solicitation is scheduled to expire at 5:00 p.m., New York City time, on August 14, 2025, unless extended by GCI Funding (the 'Expiration Date'). Holders of Notes may revoke their consent at any time up to 5:00 p.m., New York City time, on August 14, 2025 (the 'Revocation Deadline'). Holders of Notes who validly deliver consents to the Proposed Amendments in the manner described in the Consent Solicitation Statement will be eligible to receive a consent fee equal to $0.50 per $1,000 unpaid principal balance of the Notes for which consents have been validly delivered prior to the Expiration Date and not validly revoked prior to the Revocation Deadline. Holders providing consents after the Expiration Date will not receive the consent fee. The consent fee will be paid to consenting holders as promptly as practicable after the satisfaction or waiver of the conditions to the Consent Solicitation, as further described in the Consent Solicitation Statement. Approval of the Proposed Amendments requires the consent of the holders of not less than a majority of the aggregate unpaid principal balance of the Notes (the 'Requisite Consents'). Only holders of the Notes are being solicited for their consent to the Proposed Amendments. The consummation of the Consent Solicitation is subject to a number of conditions that are set forth in the Consent Solicitation Statement, including, without limitation, (i) the receipt by the Tabulation Agent (as defined below), on or prior to the Expiration Date, of the Requisite Consents, (ii) the Proposed Amendments being executed and becoming effective, and (iii) the absence of any regulatory or other legal impediments to the prompt implementation of the Proposed Amendments, the entering into of the Proposed Amendments or the payment of any Consent Fee to the holders of Notes in respect thereof or any law, regulation or proceeding that would question the legality or validity of any thereof. If the Requisite Consents are received, then, upon execution of the Proposed Amendments and payment of the consent fee, the Proposed Amendments will be operative and be binding upon all holders of Notes, whether or not such holders have delivered consents to the Proposed Amendments. A more comprehensive description of the Consent Solicitation and the Proposed Amendments can be found in the Consent Solicitation Statement. GCI Funding has retained D.F. King & Co., Inc. to serve as its tabulation agent for the consent solicitation (the 'Tabulation Agent'). Questions concerning the terms of the Consent Solicitation and requests for documents should be directed to D.F. King & Co., 48 Wall Street, 22 nd Floor, New York, NY 10005, Attention: Andrew Beck. Banks and brokers please call (212) 269-5550; all others please call (800) 644-5854. RBC Capital Markets, LLC is serving as the solicitation agent for the Consent Solicitation. Questions regarding the Consent Solicitation may be directed to RBC Capital Markets, LLC at (877) 381-2099 (toll-free) or (212) 618-7843. This press release and the Consent Solicitation Statement do not constitute an offer to sell or a solicitation of an offer to purchase any Notes or other securities. The Consent Solicitation is being made only by, and pursuant to the terms of, the Consent Solicitation Statement, and the information in this press release is qualified in its entirety by reference to the Consent Solicitation Statement. No recommendation is made, or has been authorized to be made, as to whether or not holders of Notes should consent to the adoption of the Proposed Amendments or to any other matters that are the subject of the Consent Solicitation. Each holder of Notes must make its own decision as to whether to give its consent to the Proposed Amendments and such other matters. About Triton International Limited Triton International Limited is the world's largest lessor of intermodal freight containers. With a container fleet of more than 7 million twenty-foot equivalent units ('TEU') of owned and managed containers, Triton's global operations include acquisition, leasing, re-leasing and subsequent sale of multiple types of intermodal containers and chassis.
Time of India
29-05-2025
- Business
- Time of India
TCIL pursuing opportunities to deploy UPI, digital ID solutions overseas, says CMD Sanjeev Kumar
NEW DELHI: The Telecommunications Consultants of India Limited ( TCIL ) is pursuing opportunities in foreign countries to deploy unified payments interface (UPI)-led services and digital ID solutions . 'Another technology that is getting a lot of recognition in the overseas markets is the UPI and digital IDs. So TCIL is also pursuing opportunities to deploy these solutions,' Sanjeev Kumar, CMD, TCIL, told ETTelecom in an interview. UPI, part of India's homegrown digital stack, is already live in over seven countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius, allowing Indians to make online payments internationally in a seamless manner. UPI remains the cornerstone of India's digital payment ecosystem, contributing to 80% of the retail payments across the country. The total transaction volume exceeded 131 billion and the value exceeded ₹200 lakh crore for the FY 2023-24, the Ministry of Finance said in February this year. Prime Minister Narendra Modi, too, has actively pitched for UPI's expansion within the BRICS grouping, which may boost remittance flows, improve financial inclusion, and improve India's positioning in the global financial ecosystem. Kumar further said TCIL is working with international organisations to deploy indigenous 4G technology , particularly in countries such as Angola, Gambia, Zambia, Botswana, and others. 'In addition to that, our focus is on telemedicine solutions and e-smart class solutions as well. We are in advanced discussions with Angola, Gambia and Zambia, which have shown interest in 4G deployment,' he added. The top executive further said European countries and Australia have shown interest in adopting the early warning disaster management solutions developed by the Centre for Development of Telematics (C-DoT). The telecom PSU has empanelled more than 300 startups and MSMEs as its partners to implement various projects, Kumar said, adding that TCIL offers flexible policies to award deals to these entities. 'We can award a work worth up to ₹10 crore to any startup, and once that work is completed, it can be awarded more deals. That way, it helps a startup to build up its financial strength and experience criteria,' the executive said. According to TCIL, Indian startups have a 'bright future' ahead, particularly in the artificial intelligence (AI) segment which is seeing the launch of new solutions catering to various industries. The Mini Ratna telecom PSU has already executed projects in over 70 countries. Its overseas operations are currently in the Kingdom of Saudi Arabia, Kuwait, Oman, Mauritius, and Nepal, apart from the ongoing pan Africa e-Vidya Bharti and Arogya Bharti Network project operating in more than 15 African countries. The company is also executing several government projects such as the Defence NFS project, Navy OFC projects, Universal Service Obligation Fund (USOF)-funded APSFL and Telengana Fiber Projects, Bharat Broadband Network Limited (BBNL) VSAT, Eklavya School, Bharat Sanchar Nigam Limited (BSNL) Super Edge, Teaching Learning Material for Bihar Education Council, among others.
Time of India
27-05-2025
- Business
- Time of India
TCIL net profit jumps 112% on-year to ₹156.04 crore in FY25
NEW DELHI: The Telecommunications Consultants of India Limited ( TCIL ) on Tuesday posted a 112% year-on-year jump in its profit after tax (PAT) at ₹156.04 crore in the fiscal year that ended March 31, 2025 (FY25). The telecom PSU had reported a net profit of ₹73.37 crore in FY24. The company's revenue, too, increased by 17% year-on-year to ₹3,502.13 crore in FY25, up from ₹2,603.46 crore in FY24. Exceptional items for the fiscal year came at ₹3,921.95 crore, comprising a gain of ₹4,237.60 crore from Bharti Hexacom Limited (BHL), minus subsidiary provision (-₹244.89 crore) and IPO exposure (-₹70.66 crore). Bharti Airtel has a 70% stake in Bharti Hexacom , with the Centre, through TCIL, holding 15%. Bharti Hexacom offers mobile services in Rajasthan and the Northeast. TCIL has executed projects in over 70 countries. Its overseas operations are currently in the Kingdom of Saudi Arabia, Kuwait, Oman, Mauritius, and Nepal apart from the ongoing pan Africa e-Vidya Bharti and Arogya Bharti Network project operating in more than 15 African countries. The company is also executing several government projects such as the Defence NFS project, Navy OFC projects, Universal Service Obligation Fund (USOF)-funded APSFL and Telengana Fiber Projects, Bharat Broadband Network Limited (BBNL) VSAT, Eklavya School, Bharat Sanchar Nigam Limited (BSNL) Super Edge, Teaching Learning Material for Bihar Education Council, among others.
The Hindu
25-05-2025
- Business
- The Hindu
Time for a new India-Africa digital compact
Africa Day (May 25) marks the founding of the Organisation of African Unity in 1963 and symbolises the continent's ongoing journey towards unity, independence, and development. To usher in a new era of growth, the African Union's Digital Transformation Strategy (2020-2030) positions digital innovation at the heart of its agenda. It recognises the need for governments to adopt digital solutions that can accelerate socio-economic progress. This evolving paradigm is also reshaping India's approach to development diplomacy in Africa. For decades, India has blended state-led financing with socially embedded solutions, ranging from capacity-building through technical training to infrastructure projects backed by concessional lines of credit. Increasingly, social enterprises delivering low-cost, high-impact innovations have also become part of New Delhi's engagement, reflecting a shift toward more inclusive and adaptable partnerships. A digital partnership India's development approach is now entering a new phase, marked by more integrated, technology-driven partnerships. This builds on early initiatives such as the Pan-African e-Network, launched in 2009, which provided tele-medicine and tele-education through satellite and fibre-optic infrastructure, implemented by TCIL on behalf of the Indian government. Expanding on this, and building on the success of its Digital Public Infrastructure (DPI) systems, such as Aadhaar, UPI, CoWIN, and DIKSHA, India is now focusing on sharing and co-creating digital solutions to tackle fundamental governance and service delivery challenges. This shift comes at a crucial moment for Africa, where many governments are advancing national and continental digital agendas, aligned with initiatives such as the Policy and Regulatory Initiative for Digital Africa and the Smart Africa Alliance, aimed at harnessing technology for inclusive and sustainable development. The contours of a digital partnership between India and Africa are already emerging. In 2021, Togo's National Agency for Identification signed an MoU with the International Institute of Information Technology Bangalore (IIT-B) to implement the Modular Open-Source Identification Platform as the foundation for its national digital ID system. In 2023, Zambia signed an MoU with the Centre for Digital Public Infrastructure at IIIT-B to support the implementation and scaling up of the Smart Zambia Initiative, a national effort to advance digital transformation across government services. In 2024, the Bank of Namibia signed a pact with the National Payments Corporation of India for developing a UPI-like instant payment system. Ghana, too, is linking its payment system with India's UPI to enable faster transactions. These partnerships reflect a growing interest in India's DPI model, which offers affordability, scalability, and a public-oriented design. However, these advances of India's digital diplomacy in Africa are not occurring in a vacuum. As research by Folashadé Soulé highlights, African governments typically choose digital partners not based on ideological alignment or geopolitical loyalty, but on the partner's capacity to meet national digital priorities. In this context, China has frequently emerged as a preferred collaborator, thanks to state-backed financial mechanisms that lower the cost of adoption, especially in infrastructure-heavy domains. But it is not alone in shaping Africa's digital future: the European Union, the U.S., and India are competing for influence. What sets India apart is not just its technology, but its framing of DPI as a digital public good, open-source, and adaptable. India's DPI model offers a public-oriented alternative to a more surveillance-driven or proprietary approach. The opportunity lies in adapting these tools to local contexts through genuine state-led collaboration, beyond technology transfer. In this context, the establishment of the first overseas campus of the Indian Institute of Technology Madras in Zanzibar represents a strategic intervention. By offering advanced academic programmes in Data Science and AI and integrating with Indian private sector partners to fund scholarships, the initiative aligns technical capacity-building with broader socio-economic goals. If scaled effectively, such models could power Africa's digital infrastructure. Challenges However, challenges persist. Africa is home to the world's largest digital divide. This exclusion is shaped by the high costs of data and devices, stark rural-urban disparities in connectivity, and a persistent gender gap in digital access and literacy. Moreover, the expansion of digital infrastructure hinges on reliable energy supply, a critical bottleneck in many African countries. Meeting the growing energy demands of digital transformation will require coordinated investments in sustainable power generation and grid expansion. Regardless, the groundwork for digital governance is advancing. About 85% of African countries now have national ID systems with digital capabilities, and over 70% collect biometric data for authentication purposes. This presents a strong foundation on which to build inclusive and interoperable public digital platforms. A new India-Africa digital compact, anchored in mutual respect, co-development, and long-term institutional partnerships, could serve as a scalable framework for advancing digital inclusion. Veda Vaidyanathan, Fellow, Foreign Policy and Security Studies, Centre for Social and Economic Progress
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Business Standard
06-05-2025
- Business
- Business Standard
TCIL kept out of Bharti Hexacom tower valuation; new deal in works
State-run Telecommunications Consultants India (TCIL) was not consulted in the valuation process for the sale of 3,400 mobile towers to Indus Towers for Rs 1,134 crore, and a fresh deal is being worked out, a government source said. Bharti Airtel and Bharti Hexacom board approved sale of their firms' telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively, to their group company Indus Towers in the first week of February. The deal is being worked out afresh and TCIL has now been engaged in the process, the source said. "TCIL was not kept in loop about sale of Bharti Hexacom mobile towers to Indus Towers. The deal was limited for transactions among group firms only. TCIL wants the sale to take place through an open bidding process where other players can also participate," the source said. TCIL holds a 15 per cent stake in Bharti Hexacom -- a subsidiary of Bharti Airtel. An Airtel spokesperson said the company remains convinced about the business logic and merits of the proposal, which also received endorsement and strong support from our shareholders and proxy agencies. "However, in line with transparency and robust corporate governance, we have agreed to put the current proposal in abeyance and initiate a fresh process as required by our significant minority shareholder TCIL," the spokesperson said.
