Reliance Jio Takes Loan of Rs 3250 crore from Japanese Banks
Reliance Jio, the telecom operator recently raised funding worth Rs 3250 crore as Samurai term loan from Japanese banks. A samurai loan is a low interest loan from Japanese investors and this deal with Reliance Jio represents the largest samurai loan an Asian company ever signed.
A statement released from Reliance Jio read, “Reliance Jio Infocomm Limited has signed an approximately JPY 53.5 billion samurai term loan with 7 year bullet maturity, The facility is guaranteed by Reliance Industries Limited and will be used for funding RJILs ongoing capital expenditure.”
“The facility has been fully underwritten by Mizuko Bank Ltd, MUFG Bank Ltd, and Sumitomo Mitsui Banking Corporation Singapore Branch and will be shortly launched into syndication,” the statement added.
Last month, the ...