On Wednesday, Reliance Jio Infocomm said that it has raised a USD 750 million (about Rs 4,500 crore) loan which will be used to finance goods and services from Samsung Electronics and Ace Technologies Corp.
“Reliance Jio Infocomm Limited has signed a USD 750 million loan backed by Korea Trade Insurance Corporation (K-sure) on May 7, 2015. The loan is guaranteed by RIL and will be primarily used to finance goods and services procured from Samsung Electronics and Ace Technologies Corp, which are being sourced for the infrastructure rollout of RJIL,” Reliance Jio said in a statement.
The time period for repayment of the loan is 12 years. The statement said that this is the first facility by K-sure with Reliance Jio and the largest deal of it in India but is the second facility by K-sure with Reliance Group.
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