RELIANCE JIO INFOCOMM LIMITED - USD 1 bn equivalent K-SURE covered facility
Myequity news service | Date : 26-06-2018 17:30:00 IST
Reliance Jio Infocomm Limited (“RJIL”) has signed a US$ 1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (“K-SURE”) on 22nd June 2018.
The company said, the Facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp. The Facility has door to door tenor of 10.75 years.
• The Facility is K-SURE’s largest deal in India as well as the largest deal supported by K-SURE in the telecom sector globally.
• This transaction marks the fourth K-SURE covered facility for Reliance group in last 5 years and the second K-SURE covered facility for RJIL in the last 3 years.
The Facility was arranged by Australia and New Zealand Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited. In addition, it saw participation from the following banks – BNP Paribas; Commerzbank AG; Citibank N.A.; ING Bank; JPMorgan Chase Bank, N.A.; Mizuho Bank, Ltd.; MUFG Bank, Ltd. and Banco Santander, S.A. About Reliance Jio Infocomm Limited
Reliance Jio Infocomm Limited (“Jio”), a subsidiary of Reliance Industries Limited (“RIL”), has built a world-class all-IP data strong future proof network with latest 4G LTE technology. It is the only network conceived and born as a Mobile Video Network from the ground up and supporting Voice over LTE technology.
Jio will bring transformational changes in the Indian digital services space to enable the vision of Digital India for 1.2 billion Indians and propel India into global leadership in digital economy. It has created an eco-system comprising network, devices, applications and content, service experience and affordable tariffs for everyone to live the Jio Digital Life
Reliance Industries Limited closed 2.60% down at Rs 978.30