Reliance Industries Limited (RIL) is reportedly planning to raise around $800 million from the Export-Import Bank of Korea (K-Exim). RIL?s telecom subsidiary, Reliance Jio Infocomm Limited (RJIL) will use the funds to finance the purchase of telecom equipments from the Korean vendors. Earlier in September 2014, RJIL had reportedly awarded contracts for the supply of long term evolution (LTE) base transceiver stations to South Korea-based Samsung.
K-Exim will fund around 60 per cent of the total amount of purchases and stand as a guarantee for the remaining amount. The rest of the purchase payments will be made by other international banks from Japan and South Korea.
The deal with K-Exim will be the first international financing for RJIL following a $1.5 billion overseas funding for spectrum payments by the company in 2010.
RJIL had acquired the broadband wireless access spectrum for rolling out 4G network in 2010 and is planning to launch its services before March 2015.
