RJIL raises US$ 750 Million, 12 year loan backed by K-Exim
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," the RJIL said in a statement.
This deal is notably Korea Exim Bank’s largest telecom infrastructure financing till date, it said.
It is also Korea Exim Bank’s largest deal in India.
"Korea Exim Bank is funding US$ 440 Million of the above loan as a direct funding and the balance US$ 310 Million is being funded under the K-Exim covered guarantee by eleven of Reliance’s relationship banks including The Hongkong and Shanghai Banking Corporation Limited, Australia and New Zealand Banking Group Limited, Banco Santander, S.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Commerzbank AG, ING Bank, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd, and Sumitomo Mitsui Banking Corporation and a new relationship NongHyup Bank," read the statement.
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