Reliance Jio Signs Pacts for $1.5 Bn Syndicated Loans

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Reliance Jio Infocomm said it has signed syndicated term loan facilities worth $1.5 billion (Rs 9,270 crore) to refinance similar debt taken on in 2010, the year parent Reliance Industries acquired Infotel Broadband which was subsequently renamed Reliance Jio.

Under the latest programme, guaranteed by Reliance Industries, the telecommunication company that has yet to launch services has tied up for $1 billion of loans maturing in 5.5 years and another $500 million with a 7-year tenure. The terms were “significantly better” than those in 2010, Reliance Jio said in a news release. Original post at ET Telecom

Wahengbam Rorrkychand

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