Reliance Jio Infocomm Limited (RJIL) has secured a 12-year loan of $750 million through loans from the Export-Import Bank of Korea (K-Exim). The funds will be utilised to finance the telecom equipments purchased from the South Korean vendor, Samsung for the telecom operator?s 4G internet network rollout in 2015. The loan would be available over the initial two years and repayable over 10 years thereafter.
K-Exim will provide financing for $440 million of the purchase costs while the remaining amount will be covered as under the K-Exim covered guaranteed through 13 banks, which include Hongkong and Shanghai Banking Corporation (HSBC) Limited, BNP Paribas and JP Morgan Chase Bank.
The deal with K-Exim is the first international financing for RJIL following a $1.5 billion overseas funding for spectrum payments by the company in 2010.
