Big success! Reliance Jio gets $1 bn in kitty; all details here

Reliance Industries backed Reliance Jio has revealed that it has signed a $1 billion equivalent term loan facility that has been covered by Korea Trade Insurance Corporation (“K-SURE”). This facility is aimed to be used for financing goods and services procured primarily from Samsung Electronics and Ace Technologies Corp. It has a door to door tenor of 10.75 years.

The Reliance Jio 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.

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The Facility was arranged by Australia and New Zealand Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited.

Additionally, 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.