Reliance Jio Infocomm has signed a $1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE) on 22nd June 2018.
The facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies. The Facility has 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.
This transaction marks the fourth K-SURE covered facility for Reliance group in the last 5 years and the second K-SURE covered facility for Reliance Jio in the last 3 years.
The facility was arranged by Australia and New Zealand Banking Group and The Hongkong and Shanghai Banking Corporation. In addition, it saw participation from the following banks – BNP Paribas; Commerzbank; Citibank; ING Bank; JPMorgan Chase Bank; Mizuho Bank; MUFG Bank and Banco Santander.