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Reliance Jio Infocomm Ltd has signed a $750-million loan backed by Korea Trade Insurance Corporation (K-sure).
The loan is guaranteed by parent Reliance Industries. The fund will be primarily used to finance goods and services procured from Samsung Electronics and Ace Technologies Corp, which are being sourced for the infrastructure roll-out of RJio. Reliance is planning to launch telecom services based on fourth generation (4G) technology sometime this year.
The loan has a door to door tenor of 12 years, including a 2 year availability period and 10 year repayment period thereafter.
This is K-sure’s largest deal in India.
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