NEW DELHI (Reuters) - Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, said it has raised 53.5 billion yen ($498.5 million) through a loan from Japanese banks.
The seven-year term loan is guaranteed by Jio’s parent company and will be used to fund capital expenditure, the company said in a statement on Friday.
Mizuho Bank Ltd, MUFG Bank Ltd and Sumitomo Mitsui Banking Corp were the underwriters for the transaction.
($1 = 107.3300 yen)
Reporting by Sudarshan Varadhan; editing by Richard Pullin