Info-tech

Reliance Jio to raise $750-mn loan from Korea Exim Bank

Our Bureau Mumbai | Updated on September 26, 2014

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Reliance Jio Infocomm Ltd (a subsidiary of RIL) has signed a $750-million loan backed by Korea Exim Bank and guaranteed by its parent RIL on September 24.

This is to finance goods and services procured from Samsung electronics for its infrastructure rollout, RIL said in an exchange filing.

The loan has a 12-year tenor. It would be available over two years and would be repayable over 10 years thereafter.

Of the total loan amount of $750 million, $440 million would be directly funded by Korea Exim Bank and the remaining $310 million funded under the K-Exim covered guarantee through 13 banks.

The banks are - HSBC, ANZ Banking group, Banco Santander SA, Bank of Tokyo Mitsubishi Ltd, UFJ Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, CommerzBank AG, ING Bank, JP Morgan Chase Bank NA, Mizuho Bank Ltd, Sumitomo Mitsui Banking Corporation and Nonghyup Bank.

Published on September 26, 2014

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