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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Reliance Jio Infocomm, a leading Indian telco has raised $2 billion in offshore loans. This is actually the largest loan in FY24 taken by an Indian company. Reliance Jio will use the loan amount to fund the recent 5G gear purchase from Finnish gear vendor Nokia. According to an ET report, the fund’s lead arranger was HSBC. Further, as per the report, Finnvera is believed to have provided an insurance cover of a similar amount to Nokia and the other global lenders of the telco. It will help in reducing the overall funding costs for Jio and would make the lenders feel more comfortable in such a large deal.
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Read More – Jio Adds Users in Rural India in July, Others Lose
Reliance Jio is deploying 5G SA (standalone) which is a costly affair as the telco needs to set up a new network infrastructure completely which is not the case with deploying 5G NSA (non-standalone). The telco is taking the help of Ericsson and Nokia in deploying 5G and has so far covered 7,764 cities and towns with its 5G.
Read More – Reliance Jio Long-Term Validity Plan at Affordable Cost
It is worth noting that Reliance Jio also recently lined up a $2 billion offshore loan arranged by BNP-Paribas (lead) which was also used to fund 5G gear purchase. However, this loan was used to fund the purchase from Ericsson. EKN, a Swedish Credit Agency, had provided a $2.2 billion cover for the Jio-Ericsson 5G deal.
