Reliance Industries’ (RIL) telecom arm - Reliance Jio Infocomm (RJIL) has signed a $750 million loan backed by Korea Trade Insurance Corporation (K-sure) on May 07, 2015. The loan is guaranteed by RIL and will be primarily used to finance goods and services procured from Samsung Electronics and Ace Technologies Corporation, which are being sourced for the infrastructure rollout of RJIL.
This is the second round of financing for RJIL from Korean ECAs and the third overall between the group and Korean ECAs in three years highlighting the growing business with Korean organizations. It has a door to door tenor of 12 years including a 2 year availability period and 10 year repayment period thereafter.
The facility is funded by 9 relationship banks of Reliance including The Hong Kong and Shanghai Banking Corporation, Australia and New Zealand Banking Group, Banco Santander, S.A., The Bank of Tokyo- Mitsubishi UFJ, JPMorgan Chase Bank, N.A., Mizuho Bank, and Sumitomo Mitsui Banking Corporation, ING Bank and DZ Bank AG.
