Reliance Jio Infocomm has tied up with Sweden’s Export Credit Agency (EKN) to raise funds amounting to $2.2 billion in the fiscal year 2022-23. As per the telco, the funds will be used to buy equipment and services from Ericsson for its pan-India 5G rollout.
In its annual report, Reliance Industries Limited (RIL) informed that its subsidiary Jio has tied up facilities of $2.2 billion supported by Sweden’s EKN, making it the largest cover ever provided by EKN for a deal to a private corporate globally. The telco raised $3 billion equivalent through syndicated term loan facilities during the financial year 2022-23.
