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23 July, 2018 19:22 IST
Reliance Jio signs USD 1 bn equivalent K-SURE covered facility
Source: IRIS | 26 Jun, 2018, 10.14AM
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Reliance Jio Infocomm (RJIL) has signed a USD 1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE) on June 22, 2018 (the Facility). The Facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp. The Facility has door to door tenor of 10.75 years.

The facility was arranged by Australia and New Zealand Banking Group and The Hongkong and Shanghai Banking Corporation. This transaction marks the fourth K-SURE covered facility for Reliance (Q,N,C,F)* group in last 5 years and the second K-SURE covered facility for RJIL in the last 3 years.

Reliance Jio Infocomm (Jio) is a subsidiary of Reliance Industries. It has built a world-class all-IP data strong future proof network with latest 4G LTE technology. It is the only network conceived and born as a Mobile Video Network from the ground up and supporting Voice over LTE technology.

Shares of the company declined Rs 8.65, or 0.86%, to trade at Rs 994.90. The total volume of shares traded was 48,129 at the BSE (9.59 a.m., Tuesday).



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