Mukesh Ambani-led RJio would utilise the latest credit arrangements to re-finance debt tied up by it in 2010. The new loan facilities are guaranteed by its parent, Reliance Industries Limited (RIL).
In a statement today, the company said that new credit facility "comprises of USD 1 billion facility I, which has a total maturity of 5.5 years and the USD 0.5 billion facility II, which has a total maturity of 7 years."
This represents the longest average maturity for an unsecured syndicated loan of similar size in Asia this year, it added.
"The deal witnessed significant over subscription before it was launched into syndication and two banks joined in as MLAs.
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"The overall bank group saw participation from banks all over the world, including North America, Europe, Australia, Asia and the Middle East. This term loan syndication saw a total of 26 banks participate in the facility," the statement said.
Middle Eastern, regional Taiwanese and Japanese banks strongly participated in providing facility, the statement said.
"Facility saw tremendous response in Syndication and raised over USD 400 million. In compliance with RBI guidelines, this facility saw participation from only International banks," the statement added.
The 2 MLAs which came in before syndication are National Bank of Abu Dhabi P.J.S.C. And United Overseas Bank Limited.
The banks which joined in syndication include Abu Dhabi Commercial Bank, Societe Generale SA, Sumitomo Mitsui Trust Bank, Limited, Singapore Branch, Land Bank of Taiwan, Singapore Branch and Mega International Commercial Bank Co., Ltd., Offshore Banking Branch.
RJio will initially cover about 5,000 towns and cities accounting for over 90 per cent of urban India, as well as over 215,000 villages in India and the target is to expand this to over 600,000 villages.
RJio in only company which hold pan-India broadband wireless access spectrum that can be used for 4G services.