Industry

Jio to raise $1 bn debt to pay Korean vendors

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To fund purchases from Samsung, Ace

Mukesh Ambani led Reliance Jio Infocomm Limited (RJIL) has signed a $1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (KSURE).

“The facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp,” said the company, adding that the facility had door-to-door tenor of 10.75 years.

Fourth facility

This transaction marks the fourth KSURE-covered facility for the Reliance Group in the last five years and the second KSURE- covered facility for RJIL in the last three years. The facility was arranged by ANZ Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited. It also saw participation from BNP Paribas, Commerzbank AG, Citibank N.A., ING Bank, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, Ltd. and Banco Santander, S.A, the company added.

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Printable version | Dec 16, 2019 1:05:36 AM | https://www.thehindu.com/business/Industry/jio-to-raise-1-bn-debt-to-pay-korean-vendors/article24255437.ece

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