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RIL’s telecom arm inks syndicated term loan facilities worth $1.5 billion

18 Nov 2014 Evaluate

Reliance Industries’ (RIL) telecom arm - Reliance Jio Infocomm (RJIL) has signed syndicated term loan facilities aggregating to $1.5 billion. The loan is guaranteed by Reliance Industries (RIL) and will be used to refinance the syndicated term loan facilities aggregating to $1.5 billion tied up by RJIL in 2010.

The loan was fully underwritten by an initial group of 15 core relationship banks that comprise the Mandated Lead Arrangers and Bookrunners (MLABs). The deal witnessed significant oversubscription before it was launched into syndication and two banks joined in as MLAs. The overall bank group saw participation from banks all over the world, including North America, Europe, Australia, Asia and the Middle East. This term loan syndication saw a total of 26 banks participate in the loan facility.

Earlier, RJIL had signed a $750 million loan backed by Korea Exim Bank on September 24, 2014. The loan was guaranteed by RIL and would be primarily used to finance goods and services procured from Samsung Electronics for the infrastructure rollout of RJIL.

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