Reliance Jio raises about $500 million via Samurai loan from Japanese banks

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New Delhi | Published: April 14, 2018 10:54:44 AM

Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, said it has raised 53.5 billion yen ($498.5 million) through a loan from Japanese banks.

Reliance Jio, Jio, Reliance, Japanese banks, Samurai loan, reliance telecom, Reliance Industries, RILMizuho Bank Ltd, MUFG Bank Ltd and Sumitomo Mitsui Banking Corp were the underwriters for the transaction.

Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, said it has raised 53.5 billion yen ($498.5 million) through a loan from Japanese banks. The seven-year term loan is guaranteed by Jio’s parent company and will be used to fund capital expenditure, the company said in a statement on Friday. Mizuho Bank Ltd, MUFG Bank Ltd and Sumitomo Mitsui Banking Corp were the underwriters for the transaction. ($1 = 107.3300 yen)

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