Reliance Jio and K-SURE Sign Billion Dollar Loan Facility

Follow Us

Reliance Jio Infocomm, the telecom unit of Reliance Industries Limited (RIL) has now confirmed that it signed a USD 1 Billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE) on June 22, 2018. The Loan Facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corporation. Also, Jio confirmed that the Facility has a 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," said Reliance Jio in a media statement issued on Monday.

reliance-jio-ksure-loan




That said, this transaction marks the fourth K-SURE covered facility for Reliance group in the last five years and the second K-SURE covered facility for Jio in the last three years.

Reliance Jio also stated that the Loan Facility was arranged by Australia and New Zealand Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited. In addition, 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.

As mentioned, this is the second K-SURE covered facility for the telecom company in the last three years. Earlier in May 2015, the Mukesh Ambani-owned telecom company has raised a loan of USD 750 million (approx. Rs 4,800 crore). Back then, the telco raised the same to deploy the infrastructure necessary for the rollout of 4G services. Jio is yet to reveal for which purpose the telco will use the new loan facility.

Reported By

Managing Editor

Chakri is a go-to guy for your next smartphone recommendation. Back in his engineering days, he used to play with smartphones by installing custom ROMs and that passion got him into the tech industry. He still goes nuts about a smartphone knocking his door for review. Currently managing everything at Telecom Talk, Chakri is trying to master PUBG Mobile in his free time.

Recent Comments

Faraz :

Does Bharti Hexacom provide Airtel 5G services in N.E and Rajasthan Or Both are offering 5G seperately ? Who bought…

Bharti Hexacom IPO Set for April 3, TCIL to Sell…

Faraz :

Nice.. & BSNL 60 Mbps is even perfect plan for many if there are more than 5 devices connected. Many…

BSNL 60 Mbps Plan is Likely One of the Best…

Faraz :

Budget phones have degraded more than any other budget phones since pandemic. They are still selling some craps like Helio…

POCO C61 to Launch on March 26, 2024

shivraj roy :

i feel Vi has improved than what it was in 2022 i usually get around 8-10mbps in very heavily dense…

5G Users Consuming 3.6 Times More Data than 4G Users…

biswadeepmondal :

JioAir Fiber is working very well in KPA & HLR. Sadly they don't have any data only plan.

REP: Airtel Expands Network Footprint in Bankura District of West…

Load More
Subscribe
Notify of
12 Comments
newest
oldest most voted
Inline Feedbacks
View all comments