Friday, 24 March, 2023

Jio Plans To Purchase 5G Network Equipment With $2.5 billion In Foreign Borrowing

<p>Reliance Jio is in discussions to borrow nearly $2.5 billion through an offshore syndicated loan to pay for purchases of 5G network equipment from Sweden&#39;s Ericsson and Finland&#39;s Nokia. Jio is in discussions with institutions like Bank of America, BNP, HSBC, and Societe Generale (SocGen) to set up the international loan, which will probably be priced after adding an estimated 65 basis points over the Secured Overnight Financing Rate (SOFR), a new global rate benchmark</p>