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Reliance Jio raises $750 million loan to buy goods & services from Samsung Electronics and Ace Technologies for 4G rollout
TT Correspondent |  |  14 May 2015

Reliance Jio Infocomm (Rel Jio) has tied up funding of $750 million (Rs 4,800 crore) loan backed by Korea Trade Insurance Corporation (K-sure) to finance purchases of goods and services from Samsung Electronics and Ace Technologies Corp, Reliance Jio said in a statement on Wednesday.

Reliance Industries Ltd is in the process of rolling out its infrastructure as it gears up to launch pan-India 4G telecom services.

“It has a door-to-door tenor of 12 years, including a 2-year availability period and 10-year repayment period thereafter,” RIL said in a statement.

The chain includes Hongkong and Shanghai Banking Corp. Ltd, (HSBC), Australia and New Zealand Banking Group Ltd, Banco Santander SA, Bank of Tokyo-Mitsubishi UFJ Ltd, JPMorgan Chase Bank NA, Mizuho Bank Ltd, Sumitomo Mitsui Banking Corp., ING Bank and DZ Bank AG.

Reliance Jio Infocomm already has pan-India 2300MHz, 1800MHz and 800MHz spectrum in 20 circles across the country. The company also signed a tower infrastructure deals with Bharti Airtel, Indus Towers, GT Infra, Reliance Communications to roll out 4G/LTE services in India.

    
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14 May 2015(IST)  
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