Reliance Jio offer too good to resist for Japan too? Telco bags largest Samurai loan ever by Asian firm
This Reliance Jio, Japanese banks deal represents the largest Samurai loan for an Asian corporate.
The Mukesh Ambani led Reliance Jio Infocomm Limited (RJIL) raised about 53.5 billion yen ($498.5 million) on Saturday, through a loan from Japanese banks. The amount was a seven year term loan and has been guaranteed by Reliance Jio's parent Reliance Industries. As part of its customer offers, Jio has revolutionised the telecom landscape by making voice calls for Jio customers absolutely free across India to any network and also with it's heavy data and other freebies.
In a notification on stock exchanges, Reliance Jio stated that, its has signed a '~JPY53.5 Billion Samurai Term Loan with 7 year bullet maturity (the “Facility”)'. The Facility is guaranteed by Reliance Industries Limited (“RIL”) and will be used for funding RJIL’s ongoing capital expenditure. This deal represents the largest Samurai loan for an Asian corporate.
The Reliance Jio loan facility has been fully underwritten by Mizuho Bank, Ltd., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation Singapore Branch and will be shortly launched into syndication.
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Reliance Jio 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.
It is future ready and can be easily upgraded to support even more data, as technologies advance on to 5G, 6G and beyond.
The company aims to 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