Reliance Jio Infocomm signs US$ 1 billion equivalent K-SURE covered facility
Mumbai, June 25 (IBNS): Reliance Jio Infocomm Limited (RJIL) has signed a US$ 1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE).
The Facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp.
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 last 5 years and the second K-SURE covered facility for RJIL in the last 3 years.
The 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.