December 24, 2024 11:57 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Five soldiers killed, several injured as Army truck falls into Poonch gorge | Allu Arjun quizzed by police in Pushpa 2 stampede case | Wanted Indian drug smuggler killed in the US | Congress leader files complaint against Allu Arjun for 'insulting police' in Pushpa 2: The Rule | Ahead of Jaishankar's US visit, foreign secretary Vikram Misri meets top US diplomats | India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people | Kuwait PM personally sees off Modi at airport as Indian premier concludes two-day trip

RJIL raises US$ 750 Million, 12 year loan backed by K-Exim

| | Sep 26, 2014, at 03:25 am
Mumbai, Sept 25 (IBNS): Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries Limited has signed a US$ 750 Million loan backed by Korea Exim Bank on Thursday.

The loan is guaranteed by RIL and will be primarily used to finance goods and  services procured from Samsung Electronics for the infrastructure rollout of RJIL.

"This is the first loan between Reliance group and Korea Exim Bank and has a door to door tenor of  12 years including a 2 year availability period and repayable over 10 years thereafter," the RJIL said in a statement. 

This deal is notably Korea Exim Bank’s largest telecom infrastructure financing till date, it said.

It is also  Korea Exim Bank’s largest deal in India.

"Korea Exim Bank is funding US$ 440 Million of the above loan as a direct funding and the balance  US$ 310 Million is being funded under the K-Exim covered guarantee by eleven of Reliance’s  relationship banks including The Hongkong and Shanghai Banking Corporation Limited, Australia  and New Zealand Banking Group Limited, Banco Santander, S.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Crédit Agricole Corporate and Investment Bank, Commerzbank AG, ING  Bank, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd, and Sumitomo Mitsui Banking Corporation and a new relationship NongHyup Bank," read the statement.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.