Reliance Jio signs $1 bn loan to buy products from Samsung and Ace

Reliance Jio Infocomm has signed a $1 billion term loan facility covered by Korea Trade Insurance (K-SURE).
Jio for VoLTE serviceReliance Jio, India’s leading 4G operator, will use the loan facility to finance goods and services procured primarily from Samsung Electronics and Ace Technologies.  The loan facility has door to door tenor of 10.75 years.

Reliance Jio said the loan 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 Indian telecom operator said Australia and New Zealand Banking Group (ANZ) and The Hongkong and Shanghai Banking Corporation (HSBC) arranged the loan with participation from BNP Paribas, Commerzbank, Citibank, ING Bank, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, and Banco Santander.