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Reliance Jio Infocomm Ltd (RJIL), the telecom unit of Reliance Industries Ltd, has raised a syndicated term loan of $1.5 billion.
The loan, guaranteed by RIL, will be used to refinance term loans totalling $1.5 billion tied up by RJIL in 2010. A total of 26 banks from across the world — from North America, Europe, Australia, Asia and West Asia — participated in the facility.
The loan comprises $1 billion with a total maturity of 5.5 years and $0.5 billion, with a total maturity of 7 years. The higher tenure of seven years is the longest average maturity for an unsecured syndicated loan of similar size in Asia this year, it added.
The loan was tied up at better terms than the ones signed in 2010. There were 15 lead arrangers and book-runners for the facility, including Australia and New Zealand Banking Group, Bank of America, Barclays Bank PLC, The Bank of Nova Scotia Asia, The Bank of Tokyo-Mitsubishi UFJ and Citigroup Global Markets Singapore.
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