RJIL procures $1 billion long-term loan facility from K-SURE (India)

Reliance Jio Infocomm Limited (RJIL)has se­cured $1 billion worth of term loans covered by the Korea Trade Insurance Corporation (K-SURE). The funds raised will be used for purchasing electronics goods from Samsung Elec­tronics and Ace Technologies Corpora­tion. The loan has a door-to-door tenor of 10.75 years. Banks inclu­ding the Australia and New Zealand Ban­king Group,  Hong­kong and Shanghai Ban­k­ing Corporation, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, BNP Paribas, Commerz­bank AG, Citibank, ING Bank and Banco Santander have helped the company arran­ge this loan.

RIL acquires 73 per cent stake in AI firm Embibe

Reliance Industries Limited (RIL) has to acquired close to 73 per cent stake in artificial intelligence (AI)– based education technology provider Embibe. RIL plans to invest $180 million in the company over the next three years. Earlier, in April 2018, RIL had entered into agreements with Individual Learning Private Limited to acquire close to 73 per cent stake in Embibe. Embibe will use this capital towards deepening its research and development on AI in the education sector, as well as on business growth and geographic expansion. Further, the funds will also be used to cater to students’ needs in higher education, professional skill development, vernacular languages and other curriculum categories across the globe.

Bharti Airtel to raise $1 billion through overseas loans

Bharti Airtel plans to raise about $1 billion through overseas loans to refinance its high-cost debt and free up cash for capex investments needed for its 4G network expansion. As per industry sources, Airtel may be able to raise the funds by August 2018 from five to six banks. The loans are likely to have a tenor of two to three years and be priced at a mark-up based on London Inter-Bank Offered Rate. Airtel’s debt has increased to over Rs 950 billion in 2018 as compared with Rs 910 billion in 2017.

RIL to acquire Radisys for $74 million

RIL has signed an agreement for the acquisition of Radisys at a value of $74 million. This acquisition by RIL would enable RJIL to secure its position in the 5G and internet-of-things domains. RIL plans to fund the transaction in cash through its internal accruals. Radisys will be delisted post the acquisition.

MNF signs deal to acquire Singapore’s SuperInternet (Singapore)

Australian telecom firm, the MNF Gr­oup, is set to acquire Singapore’s Super­­Internet Group for $1.47 million. The deal includes SuperInternet’s domestic, fully interconnected voice network infrastructure; full national interconnection with NetLinkTrust; extensive domestic dark fibre transmission within the Singa­pore Central Business District; and specialist staff with experience in marketing, sales and operations in the Singapore market. The acquisition of Super­Inter­net will provide MNF with additional capabilities to address the Singapore market, which will increase its sales potential with existing and new wholesale customers. The transaction is being funded via the company’s internal resources and is expected to provide MNF with a rapid entry into the Singapore market, as part of its strategy of regional expansion into Asia.

NOW Corporation to offer convertible preferred shares worth $18.8 million (Philippines)

The Securities and Exchange Commission of the Philippines has approved NOW Cor­­­poration’s plan to offer convertible preferred shares with detachable warrants to raise funds amounting to PhP 1 billion ($18.8 million). NOW Corporation is plan­­ning to sell 5 million redeemable and convertible shares at PhP 100 per share, along with an oversubscription option of 5 million shares. NOW Corporation is also interested in bidding to become the third telco in the Philippines and plans to use the bulk of the proceeds to fund the capital expenditure for the expansion of fibre-in-the-air infrastructure and fibre optic networks, and for general corporate purposes.

Huawei allocates $81 million for investment in ASEAN (Thailand)

Huawei Technologies has allocated $81 million for investment in the Association of Southeast Asian Nations (ASEAN) over three years. The company has signed an MoU for three years with the National Innovation Agen­cy and National Science and Techno­logy Development Agency for innovation in Thailand. It intends to set up OpenLabs for the benefit of cloud developers. The MoU covers five areas – building deep technology start-ups, a digital insights platform, developing the start-up ecosystem, becoming a global start-up industry, and creating science, technologies, engineering, art and maths curriculum and human capital. The collaboration also aids the Eastern Economic Corridor of Inno­vation, which covers biopolis, bio­technology, autonomous robotics, intelligent systems and digital information technology.