Jio raises Samurai loan with 7-year bullet maturity
14 April 2018
Reliance Jio Infocomm Ltd (RJio), a subsidiary of Reliance Industries Ltd (RIL), has signed a Japanese yen 53.5 billion Samurai term loan with 7-year bullet maturity. The term-loan will be used to fund RJio’s ongoing capital expenditure plans.
RIL has provided guarantee to the term loan, which is the largest Samurai loan for an Asian corporate, RJio said in a statement.
The loan has been fully underwritten by Mizuho Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation Singapore Branch and will be shortly launched into syndication, it added.
In March, RJio’s 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.
Separately, RIL on Friday also entered into agreements to acquire 72.69 per cent stake in Indiavidual Learning Pvt Ltd (Embibe), an Artificial Intelligence-based education platform.
The company controlled by billionaire Mukesh Ambani will invest $180 million in Embibe over the next three years.