Current Affairs - Business - Discussion

Reliance Jio has signed an agreement to raise nearly Rs 3,250 crore as samurai term loan from Japan-based banks. Reliance Jio Infocomm Limited said that, it had signed approximately JPY 53.5 billion samurai term loan with 7 year bullet maturity. The facility is guaranteed by Reliance Industries Limited. It will be used for funding Reliance Jio Infocomm Limited's ongoing capital expenditure. With exchange rate of 60 paise per Japanese yen, the loan value amounts to nearly Rs 3,248 crore. The facility has been fully underwritten by Mizuho Bank, Ltd., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation Singapore Branch. It added that, it will be launched into syndication soon.