Reliance Jio Infocomm Limited (RJIL) has secured a $750 syndicate million (Rs 48 billion) loan backed by Korea Trade Insurance Corporation (K-sure). The funds will be primarily used to finance equipment and services procured from Samsung Electronics and Ace Technologies Corporation, which are being sourced for the 4G infrastructure roll-out.
The loan facility has tenor of 12 years, including a two-year availability period and a 10-year repayment period. Nine banks already dealing with the company will be funding the loan, including the Hongkong and Shanghai Banking Corporation Limited, Australia and New Zealand Banking Group, Banco Santander S.A., the Bank of Tokyo-Mitsubishi UFJ, JPMorgan Chase Bank N.A., Mizuho Bank, Sumitomo Mitsui Banking Corporation, ING Bank and DZ Bank AG.
RJIL has already invested an estimated Rs 860 billion for the roll out of 4G networks. The company has pan-India spectrum in the 2300 MHz band, and is likely to launch its 4G services by end-2015.
