Jio signs $1 bn loan to finance goods procured from Samsung, Ace Technologies

Mumbai, June 25 (IANS) Reliance Jio Infocomm (RJIL) has signed a $1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE) on June 22, 2018, a company statement said here on Monday.

It will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp. It has "door to door tenor of 10.75 years", the statement said.

"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," it said, adding that: "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, the statement said.

In addition, it saw participation from 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.

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