Reliance Industries Ltd.

Reliance Industries’ (RIL) telecom arm - Reliance Jio Infocomm (RJio), has signed a $750 million loan backed by Korea Exim Bank on September 24, 2014. The loan is guaranteed by RIL and will be primarily used to finance goods and services procured from Samsung Electronics for the infrastructure rollout of RJIL.

This is the first loan between Reliance group and Korea Exim Bank and has a door to door tenor of  12 years including a 2 year availability period and repayable over 10 years thereafter. This deal is notably Korea Exim Bank’s largest telecom infrastructure financing till date. It is also Korea Exim Bank’s largest deal in India.

Korea Exim Bank is funding $440 million of the above loan as a direct funding and the balance $310 million is being funded under the K-Exim covered guarantee by eleven of Reliance’s relationship banks.