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Reliance's telecom unit Jio raises about $500 million via Samurai loan

Reuters  |  NEW DELHI 

(Reuters) - Infocomm Ltd, the telecom unit of 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, and were the underwriters for the transaction.

($1 = 107.3300 yen)

(Reporting by Sudarshan Varadhan; editing by Richard Pullin)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 14 2018. 10:31 IST