Reliance Jio signs $1 billion term loan facility covered by Korea Trade Insurance Corp
Reliance Jio Infocomm Limited today has announced that it has signed a US$ 1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation; K-Sure on 22nd June 2018. The company says that it will use the facility 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 time, K-SURE covered facility for Reliance group in last five years and the second K-SURE covered facility for RJIL in the last three years.
The Facility was arranged by Australia and New Zealand Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited. Additionally, it also saw participation from various banks including 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.
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