Reliance Jio: 26 banks rush to sign syndicate loan pacts to the amount of $1.5 Billion

Reliance JIO Infocomm Logo_bigReliance Jio Infocomm has planned to raise $1.5 billion from 26 banks to refinance loans it took in 2010. According to the company, the refinancing comprises $1 billion with a total maturity of 5.5 years, and $500 million, with a total maturity of 7 years.

During September, Reliance Jio had said it had raised a $750 million loan from Korea Exim Bank to finance the purchase of telecoms infrastructure from Samsung Electronics.

Adding on, Reliance has said it will invest over $11 billion for its 4G telecoms service as the business beefs up infrastructure ahead of a nationwide rollout next year.

Also Read: 20% fall in data tariffs expected due to Reliance Jio’s entry.

The banks which joined in syndication are Abu Dhabi Commercial Bank, Societe Generale SA, Sumitomo Mitsui Trust Bank, Limited, Singapore Branch, Land Bank of Taiwan, Singapore Branch, Mega International Commercial Bank Co., Ltd., Offshore Banking Branch, Bank of Taiwan, Singapore Branch, CTBC Bank Co., Ltd. Singapore, The Iyo Bank, Ltd. and The Hyakujushi Bank, Ltd.

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6 Comments on "Reliance Jio: 26 banks rush to sign syndicate loan pacts to the amount of $1.5 Billion"

 

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irfan
November 19, 2014 12:24 am 12:24 AM

smart as** reliance took loan from the foreign banks only so that in case of losses they cant do anything against them in india poor foreign financial companies they dont know what a big cheat reliance is

D.JAISANKAR
November 19, 2014 12:09 pm 12:09 PM

Mind your words Reliance is economic of india…… shits……… get out from here……

arka
November 18, 2014 4:26 pm 4:26 PM

OFF Topic: Nokia unveils its first Android tablet “Nokia N1” today. 🙂

SS
November 18, 2014 5:24 pm 5:24 PM

And adding extra info- its the original nokia, the finnish company!

Rama
November 18, 2014 8:37 pm 8:37 PM
*Although technically and I am 90% sure this is a tablet made by the original Nokia. I have a inner feeling that this is a Chinese rebranded tablet simply using Nokia’s name rather than some original piece out of Nokia’s stable.Here are the reasons why I feel this is just a rebranded tablet. *First of all look at the design of the tablet. The N1 has horribly copied the ipad mini. As far as I have seen Chinese manufacturers are best at copying Apple products. Xiaomi and several other small scale companies keep copying Apple time to time from design… Read more »
APpL€ LoVeR™
November 18, 2014 6:41 pm 6:41 PM

Blackberry reveals a new affordable smart phone ‘Classic Q 20’ with LTE facility.Cost around Rs.30000 and now i am attracted towards it.Hope that it will introduce that phone in India also.

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