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Reliance Jio confirms raising Samurai loan for $500 mn

MUMBAI: Reliance Jio Infocomm has signed a ~JPY 53.5 billion (or around $500 million) samurai term loan with 7 year bullet maturity, the company said in a release on Friday.

“The facility is guaranteed by Reliance Industries and will be used for funding RJILs ongoing capital expenditure,” it said.

“This deal represents the largest Samurai loan for an Asian corporate.”

ET was first to report that the company had raised the loan from three Japanese banks including Mizuho Bank, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation.

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, the company said in the release.

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