Reliance Jio raises Rs 4500 crore from K-sure for 4G rollout

MUMBAI: Reliance Jio Infocomm has signed a loan for approximately Rs 4500 crore ($750 million) from the Korea Trade Insurance Corporation (K-sure) for a period of 12 years.


The funds will be used to finance goods and services from Samsung Electronics and Ace Technologies Corp, which are being tapped for its infrastructure rollout.


This is the first facility by K-sure with Reliance Jio and its largest deal in India. However this is also the second facility by K-sure with the Reliance Group, including RIL and Reliance Jio.


This deal also marks the second round of financing for Reliance Jio from Korean export credit agencies (ECAs) and the third overall between the group and Korean ECAs in three years, highlighting growing business with Korean organisations.


The facility is funded by nine relationship banks of Reliance including The Hong kong and Shanghai Banking Corporation (HSBC), Australia and New Zealand Banking Group, Banco Santander SA, The Bank of Tokyo-Mitsubishi UFJ, JPMorgan Chase NA, Mizuho Bank, and Sumitomo Mitsui Banking Corporation, ING Bank and DZ Bank AG.

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