Reliance Jio Infocomm to refinance loans
Capacity Asia day 2 – India’s Reliance Jio Infocomm is looking to raise $1.5 billion to refinance several loans it acquired in 2010, according to local reports.
In a statement this week, the company said that its refinancing comprises $1 billion with a total maturity of five and a half years, and $500 million with a maturity of seven years.
In June, parent company Reliance Industries said it will invest $11.7 billion in telecoms infrastructure in the country ahead of the launch of 4G services planned for 2015.
Later in September, Reliance Jio reportedly raised a $750 million loan from Korea Exim Bank to finance its acquisition of infrastructure from Samsung.