NEW DELHI, Apr 14: Telecom operator Reliance Jio has signed an agreement to raise about Rs 3,250 crore as samurai term loan from Japan-based banks.
“Reliance Jio Infocomm Limited has signed an approximately JPY 53.5
billion samurai term loan with 7 year bullet maturity. The facility
is guaranteed by Reliance Industries Limited and will be used for
funding RJIL’s ongoing capital expenditure,” RJIL said in a late
night statement yesterday.
At exchange rate of 60 paise per Japanese yen, the loan value comes
to around Rs 3,248 crore.
This deal represents the largest samurai loan (low interest loans
from Japanese investors) for an Asian corporate, the statement said.
“The facility has been fully underwritten by Mizuho Bank, Ltd.,
MUFG Bank, Ltd. And Sumitomo Mitsui Banking Corporation Singapore
Branch and will be shortly launched into syndication,” RJIL said.
Last month, the Reliance Jio board had approved raising of around
Rs 20,000 crore in debt. The company has invested over Rs 2 lakh
crore in the mobile business which has garnered over 168 million customers.
The Mukesh Ambani firm has also signed agreement to buy mobile business
assets of Reliance Communications — the company led by his younger
brother Anil Ambani — for around Rs 25,000 crore.
The 4G mobile service provider RJIL said that the network of the
company is future ready and can be easily upgraded to support even
more data, as technologies advance on to 5G, 6G and beyond.
“Jio will bring transformational changes in the Indian digital services
space to enable the vision of Digital India for 1.2 billion Indians
and propel India into global leadership in digital economy,” the
statement said. (PTI)
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