Reliance Jio sees $1.5 billion in funding from Global Lenders to support 5G capex

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Reliance Jio Infocomm, a wholly-owned subsidiary of Reliance Industries, is reportedly looking to raise $1.5 billion (INR 12,350 crore) in external commercial borrowings.

According to the Economic Times, the telecom giant is looking to fund its 5G capex through the ECB after the RBI increased the automatic route limit to $1.5 billion. It is in talks with BNP Paribas, HSBC, MUFG Bank, Bank of America, Credit Agricole, DBS Bank, and Société Générale, among others, about a loan. According to the report, the fundraise could be completed by November 2022. The current fundraise is in addition to the $2.5 billion (INR 20,600 crore) offshore syndicate loan that the company intends to raise to purchase Ericsson and Nokia 5G network equipment. According to the report, the $1.5 billion offshore loan will be priced by adding 150-165 basis points to the secured overnight financing rate (SOFR).

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Reliance Jio sees $1.5 billion in funding from Global Lenders to support 5G capex

Reliance Jio Infocomm, a wholly-owned subsidiary of Reliance Industries, is reportedly looking to raise $1.5 billion (INR 12,350 crore) in external commercial borrowings.

According to the Economic Times, the telecom giant is looking to fund its 5G capex through the ECB after the RBI increased the automatic route limit to $1.5 billion. It is in talks with BNP Paribas, HSBC, MUFG Bank, Bank of America, Credit Agricole, DBS Bank, and Société Générale, among others, about a loan. According to the report, the fundraise could be completed by November 2022. The current fundraise is in addition to the $2.5 billion (INR 20,600 crore) offshore syndicate loan that the company intends to raise to purchase Ericsson and Nokia 5G network equipment. According to the report, the $1.5 billion offshore loan will be priced by adding 150-165 basis points to the secured overnight financing rate (SOFR).

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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