Reliance Jio raises $750 million from Korea Exim bank for internet infrastructure

NEW DELHI: Reliance Jio Infocomm on Thursday raised $750 million through loans from Korea Exim Bank, which will be used to finance goods and services procured from Samsung Electronics for its high-speed wireless internet infrastructure rollout, the company said in a statement. This deal is Korea Exim Bank’s largest telecom infrastructure financing till date and also the bank’s largest deal in India.

The loan, which is the first between Reliance and Korea Exim Bank, has a tenor of 12 years including a twoyear availability period, repayable over 10 years thereafter. Korea Exim Bank is funding $440 million of the above loan directly and the remaining $310 million under the K-Exim covered guarantee by 11 of Reliance’s relationship banks including the Hongkong and Shanghai Banking Corp Ltd, BNP Paribas and JPMorgan Chase Bank.