Reliance Jio Infocomm has signed a US$1-billion equivalent term loan facility covered by Korea Trade Insurance Corporation (“K-SURE”) on 22nd June, 2018 (the “Facility”). The Facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies. The Facility has door-to-door tenure of 10.75 years.
The Facility is K-SURE’s largest deal in India as well as the largest deal supported by K-SURE in the telecom sector globally. This transaction marks the fourth K-SURE covered facility for Reliance group in the last 5 years and the second K-SURE covered facility for RJIL in the last 3 years.
The Facility is arranged by Australia and New Zealand Banking Group and The Hongkong and Shanghai Banking Corporation. In addition, it saw participation from the following banks – BNP Paribas, Commerzbank AG, Citibank N.A., ING Bank, JP Morgan Chase Bank, N.A.; Mizuho Bank, MUFG Bank, and Banco Santander, S.A.
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