RJIL signs syndicated term credit facilities worth $1.5 billion with its lenders

Reliance Jio Infocomm Limited (RJIL), the telecommunications arm of Reliance Industries Limited (RIL), has signed syndicated term credit facilities worth $1.5 billion with its lenders. The new credit arrangements are guaranteed by RIL. The loan facility will comprise of a tranche of $1 billion which will mature in five-and-a-half years, and a $500 million facility that will mature in seven years.

The deal marked participation from 26 international banks including the group of 15 oversees banks that constitute the mandated lead arrangers and bookrunners (MLABs).

According to the company, part of the receipts from the loan would be used to refinance the loan taken by RIL in 2010 for the acquisition of Infotel Broadband. Infotel Broadband was later renamed to RJIL. The company is planning to launch 4G services in the country in 2015.