Reliance Jio Infocomm signs US$1 bn equivalent K-SURE covered facility
The facility will be used to finance goods and services procured primarily from Samsung Electronics and Ace Technologies Corp.
Reliance Jio Infocomm Limited (RJIL) has signed a US$1 billion equivalent term loan facility covered by Korea Trade Insurance Corporation (K-SURE), as per BSE press release. 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.
This transaction marks the fourth K-SURE covered facility for Reliance group in last 5 years and the second K-SURE covered facility for RJIL in the last 3 years. The facility was arranged by Australia and New Zealand Banking Group Limited and The Hongkong and Shanghai Banking Corporation Limited.
Reliance Jio Infocomm 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.
Reliance Industries Ltd is currently trading at Rs998 down by Rs5.55 or 0.55% from its previous closing of Rs1,003.55 on the BSE.
The stock is currently trading above its 50 DMA.
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