Reliance Jio said on Monday that it has secured a term loan of $1 billion from a group of banks led by Australia and New Zealand (ANZ) Banking Group and Hongkong and Shanghai Banking Corporation (HSBC). The long-term facility has been covered by Korea Trade Insurance Corporation (K-SURE).
The term loan facility was inked on June 22 and will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies, Jio said in a statement.
The facility, which has a door to door tenor of 10.75 years, is the largest deal in India as well as the largest deal supported by K-SURE in the telecom sector globally, it added.
It also marks the fourth K-SURE covered facility for Reliance group in the last five years and the second K-SURE covered facility for Jio in the last three years.
The facility was arranged by a clutch of banks led by ANZ and HSBC, including BNP Paribas, Commerzbank, Citibank, ING Bank, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank and Banco Santander. – Financial Express