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Reliance Jio Infocomm Ltd has signed a $750-million loan backed by Korea Exim Bank. The loan is guaranteed by Reliance Industries Ltd and will be primarily used to finance goods and services procured from Samsung Electronics for the infrastructure rollout of RJIL. This is the first loan between Reliance group and Korea Exim Bank and has a tenor of 12 years including a 2-year availability period and repayable over 10 years thereafter. Korea Exim Bank is funding $440 million of the above loan as a direct funding and the balance $310 million is being funded under the K-Exim covered guarantee by eleven of Reliance’s relationship banks.
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